ALEXANDRIA, Va.-NCUA issued a Regulatory Alert recently making credit unions aware of the newly modified Currency Transaction Report form. The Financial Crimes Enforcement Network (FinCEN) revised the CTR in response to law enforcement requests for better tracking of foreign currency movement. Two lines have been added to Part II of the form to record foreign cash in and foreign cash out. The new form (Form 104) can be used immediately and is enclosed with NCUA's Regulatory Alert. However, the old version (Form 4789) will be accepted until August 31, 2004, according to the alert. Financial institutions are required to file a CTR on any single or multiple transactions involving more than $10,000. NCUA directed credit unions' questions to the appropriate regional office or state regulators.
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