Congress Reintroduces Bill to Raise CTR Filing Threshold
The Financial Reporting Threshold Modernization Act (H.R. 1799) would update the Domestic Currency Transaction Report (CTR) threshold from $10,000 to $30,000, with periodic adjustments for inflation.
Key provisions of the bill:
- Increases the CTR filing threshold from $10,000 to $30,000.
- Requires inflation-based adjustments every five years.
- Aligns other reporting thresholds for money service businesses with the increase in the CTR threshold, with proportionate increases where applicable.
To read the full bill text, click here.
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