What is the minimum amount needed to fill out a CTR when cashing a check?

When cashing a check, a Currency Transaction Report (CTR) must be filled out when the transaction involves amounts over $10,000. This requirement is in place to comply with federal regulations aimed at preventing money laundering and other financial crimes. The threshold of $10,000 is significant because it serves as an indicator of larger cash transactions that could potentially be used to conceal illegal activities.

This obligation is particularly important for financial institutions, including banks, as they play a critical role in monitoring and reporting large cash transactions to authorities. By filing a CTR when cashing a check for $10,000 or more, the bank is fulfilling its regulatory responsibilities and helping to maintain the integrity of the financial system.