FINCEN UPDATES CTR FILING INSTRUCTIONS

The Financial Crimes Enforcement Network (FinCEN) updated the Currency Transaction Reporting (CTR) Electronic Filing Instructions, FinCEN XML Schema 2.0 User Guide,  on October 1, 2019. The version 1.4 update to the instructions includes technical corrections, changes how reporters should complete Part I of the CTR when multiple Item 2 roles apply to the person identified in Part I, and clarify when to complete Item 3 for multiple transactions involving multiple Part I sections with different Item 2 person types filed.

 The CTR E-Filing Instructions are available here: https://bsaefiling.fincen.treas.gov/docs/XMLUserGuide_FinCENCTR.pdf.

Filers should check with FinCEN regarding the effective date of this change.

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