The Chief National Bank Examiner's Office will be responsible for direct coordination of efforts with Treasury. This includes disseminating information received from Treasury, such as notices of investigations and analysis reports of CTR filings, to District management and other affected parties. Under the oversight and direction of the Chief National Bank Examiner's Office, District management shall establish procedures for: 1) communicating in writing to examiners-in-charge information regarding institutions designated for suspected non-compliance including any special guidance on procedures to follow; 2) monitoring that findings are adequately reported and that appropriate followup is made; and 3) monitoring that examinations include Bank Secrecy Act compliance procedures as outlined in this issuance. The District offices in turn will report quarterly on their findings and status of examinations to the Chief National Bank Examiner's Office as required by PPM 5000-13, dated November 1, 1982. In addition, when banks have come forward and discussed violations with the Department of Treasury and District offices, memoranda of such meetings should be prepared and forwarded to the Chief National Bank Examiner's office.
Referrals for Potential Violation of Law
Examining and District personnel are reminded to review a bank's procedures and transactions to determine if there are violations of the Bank Secrecy Act that should be the subject of a referral for possible criminal and/or civil money penalties. A separate memorandum detailing the facts of the violation may be necessary for ultimate referral. Also, unless it is believed that there is a possibility of destruction of evidence or a cover-up, examiners may discuss the problems with appropriate bank officers to obtain corrective action. As in cases of other violations of law, they should be cited in the Report of Examination. Examiners should not, however, indicate that by correcting the violations no .further action will be taken by the Treasury Department. District offices should review and forward all referrals of violations with recommendations to the CNBE for review and coordination with the Treasury Department.
Comptroller's Handbook For National Bank Examiners. Section 201.1, page 2, "Currency Transaction", 6th and 5th lines from bottom, delete: If violations are disclosed," Section 201.3, page 2, question 9.f., last sentence, delete: In the absence of any no answers". Insert after the word "retain": "a copy of". Place a note in the margin at both locations: See EC 228.
Chief National Bank Examiner, Commercial Examinations Division, (202) 447-1164.
Senior Deputy Comptroller
for Bank Supervision
TO: Chief Executive Officers of All National Banks, Officers in Charge of Federal Branches and Agencies, Deputy Comptrollers (Districts), District Administrators, Department and Division heads and All Examining Personnel
Attached for your information is an Internal kevenue Service press release issued December 19, 1985 regarding IRS Form 4789, Currency Transaction Report. You will note that the implementation date is July 1, 1986. For the period January 1 through June 30, 1986 continue filing the existing Form 4769.
This Banking Bulletin automatically expires July 1, 1986.
John F. Imney.
John F. Downey
Chief National Bank Examiner
Department of the Treasury Internal Revenue Service Public Affairs Division Washington, DC 20224
Media Contact: Tel. (202) 566-4024 Copies:
Washington-The Internal Revenue Service today announced that a revised Form 4789, Currency Transaction Report, will become effective on July 1, 1986, for transactions of more than $10,000.
Until that date, the IRS said financial institutions should continue to file the existing Form 4789. Additional supplies of the existing form can be ordered from IRS forms distribution centers.
Financial institutions can obtain a copy of the newly revised Form 4789 for the purpose of developing internal procedures or making necessary computer programming changes by sending a request to the IRS Data Center, Attn: Currency and Banking Report División, 1300 John C. ? Lodge Freeway, Detroit, MI 48226.
Chief Executive Officers of All National Banks, Officers in Charge of Federal Branches and Agencies. Deputy Comptroller (Districts), District Administrators, Department and Division Heads and All Examining Personnel
This issuance provides guidelines for amending/refiling Currency Transaction Reports (CTR). Form 4789.
The Internal Revenue Service (IRS) receives CTRS and enters this information into a data base. Due to the increased volume of CTRS being filed, processing backlogs have occurred. The cause of the increase is: 1) greater compliance awareness by the entities required to file CTRS and 2) an influx of CTRS being amended because of prior inadequacies.
Amended CTRs have resulted in duplicate entries into the data base. To minimize this occurrence the Department of the Treasury and IRS have developed guidelines for amending a CTR. The guidelines should be implemented immediately.
1. On a copy of the CTR originally filed, circle in red the incorrect, illegible or missing information.
On a blank CTR, enter "AMENDED" or "CORRECTED" in the top margin above the Currency Transaction Report legend.
Enter only the correct or amended information on the blank form in the appropriate line item or box.
Sign and date the amended or corrected form.
Staple the amended or corrected form on top of the copy of the originally filed form.
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