Which of the following is true about Currency Transaction Reports (CTR) for cash activity?

• A. It must be filed within 1 business day
• B. It is required for cash transactions that aggregate to $10,000.01 or more in one business day
• C. It applies to all transactions including non-cash
• D. It has no exemption for business customers

Answer: (B)

Currency Transaction Reports track large cash activity to help detect money laundering. A CTR is required when cash transactions in a single business day total $10,000 or more, including amounts from multiple cash transactions that add up to that threshold. This daily aggregation rule is what triggers the filing, signaling large flows of cash through the financial system. The filing deadline is not just 1 business day; CTRs must be filed within 15 calendar days after the transaction date. CTRs cover cash activity only and do not apply to non-cash transactions. There are exemptions and nuances for certain customers and situations, so not every cash transaction requires a CTR, but once the daily aggregate crosses the threshold, a CTR is needed. That’s why the correct choice is the one describing CTRs as required for cash activity that aggregates to about $10,000 in one business day.