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Financial Institution Letters

Currency Transaction Report

FIL-28-2004
March 16, 2004


TO: CHIEF EXECUTIVE OFFICER (also of interest to BSA Compliance Officer)
SUBJECT: New Currency Transaction Report
Summary: The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a new Currency Transaction Report (CTR) form - FinCEN Form 104 - which replaces the Internal Revenue Service's CTR Form 4789.

The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has released a new Currency Transaction Report (CTR) form - FinCEN Form 104 - which replaces the Internal Revenue Service's (IRS) CTR Form 4789. Banks and other institutions are required to complete a Currency Transaction Report to help law enforcement agencies detect and prevent money laundering and other illegal activities. FinCEN Form 104 is now available for use; however, banks may continue to use IRS Form 4789 until August 31, 2004.

Each financial institution must file CTR Form 104 for each deposit, withdrawal, exchange of currency or other payment or transfer by, through or to the financial institution that involves a transaction in currency of more than $10,000.

For more information, including how to complete Form 104 online and filing via magnetic media, go to http://www.fincen.gov/reg_bsaforms.html.

Please distribute this information to the appropriate personnel in your institution.

For your reference, FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2004/index.html. To automatically receive FDIC FILs through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html.

Michael J. Zamorski
Director
Division of Supervision and Consumer Protection


Attachment (May be accessed from http://www.fincen.gov/reg_bsaforms.html.)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).




Last Updated 03/16/2004 communications@fdic.gov