Casino Ctr Instructions
Currency Transaction Report by Casinos Form FinCEN 103 (Rev. 8-2008) NOTICE: On February 24, 2012, the Financial Crimes Enforcement Network (FinCEN) issued a final notice requiring the electronic filing of most FinCEN reports by July 1, 2012. Institutions are strongly encouraged to begin using the BSA E-Filing System as soon as possible. In completing the CTR, the financial institution must indicate on the form the method, type, and number of the identification. Statements such as “known customer” or “signature card on file” are not sufficient for form completion. General Instructions Who Must File.
- Casino Ctr Instructions Sheet
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- Casino Ctr Instructions Sheet
- Casino Ctr Instructions Download
- Casino Ctr Instructions Game
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We last updated the Currency Transaction Report by Casinos in February 2020,and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Federal Internal Revenue Service.You can print other Federal tax forms here.
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2018 Form FinCEN103Form FinCEN 103 (Rev. 8-2008)
2015 Form FinCEN103Form FinCEN 103 (Rev. 8-2008)
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Lets say you bring in 9700 in cash to the cage at 10am deposit it and go play. . No CTR we know. You take out a 5000 marker, play and win 5001. You take the 5001 in chips to the cashier and put it back on deposit. CTR due to the 24 hour rule?
Or, You wire 25k to the casino, you take out a marker for 11k, color up and take the chips to the cage for redeposit, Same answer as above?
Or, deposit 9900 in cash. 21 hours later you deposit 3000 in cash. CTR?
Or, you saved some chips from a previous trip. Come and deposit 15k in chips, is that a CTR?
Does the cashier fill out the form every time someone gives 10k or more every time! No matter what? Does the computer automatically notify their business office upstairs to fill out a form?
Is the time clock for a 24 hour period 12:01 midnight to 12:01 midnight? Or from the time of deposit?
Don't you think in this day and age 10k cash just isn't that much to have this law in effect? Probably 50k is more reasonable. If a drug lord or some nut wants to rip off society they would be doingit with more cash than 10k in cash?
Casino Ctr Instructions Sheet
Keep in mind that the C in CTR stands for Cash.Casino Ctr Instructions Download
Your examples of wire transfers and chip deposits do not apply.
I do FM greater than 10k all the time and never hear anything.
But my understanding and the way it was explained to me by senior cage management is anytime I hand them at one time or collectively thorough out a casino day (varies around the country) per 24 hour period that is, $10,000.00 or more, a CTR will be generated. Anytime I receive amounts collectively of $10,000.00 or greater in a casino day, I will also have a CTR generated.
As said in the above post, wires, chips, etc., any transaction NOT involving cash, means nothing.
I was told by The Bellagio, if you obviously are trying to avoid a CTR and asking your buy in amounts and displaying signs of circumventing the CTR, they usually fill out a LTR which is also classified as a suspicious report, etc. Example, you won or have much more than $10k of chips and you count them out in front of the HL cashier and you hand her $9,500.00., etc.
What the Bellagio is referring to is called (IRS/Dept. of Justice) 'structuring'. Whereas the customer/player is attempting to structure various transactions to circumvent a CTR. For example, you have more than $10k in chips and you go to cash out, and then you say, 'sorry I only want to cash $9,000.00 or $5,000.00 out'. By law, they are supposed to do a LTR or a SAR (suspicious activity report) because of 'structuring'.
Fact is, if you are not ID'd, cash out amount well under $10k and don't let anyone see you hand the chips off to anyone else, etc. Come back another day and clearly well past the 24 hour mark. Not one min after the casino day. Almost ay property will still have the right to do a SAR on you.