When cash deposits exceed $10,000 within a two-week window, what must be filed?

When cash deposits exceed $10,000 within a two-week period, a Currency Transaction Report (CTR) must be filed. This requirement is mandated by the Bank Secrecy Act (BSA), which is designed to help in the detection and prevention of money laundering and other financial crimes.

The purpose of the CTR is to provide government authorities with insight into large cash transactions, which can be indicative of illegal activities. Financial institutions need to report these transactions to the Financial Crimes Enforcement Network (FinCEN) to comply with regulatory requirements. The report must detail the nature of the transaction, the parties involved, and specific information about the cash being deposited.

There are certain thresholds and time frames established by law to ensure that suspicious activities or potential criminal behavior are monitored effectively. If cash transactions are structured to evade reporting requirements (often referred to as "smurfing"), this can also trigger additional scrutiny. Thus, filing the CTR is a critical regulatory compliance action given the circumstances of cash deposits exceeding the specified limit.