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Currency Transaction Report: How to File and Common Errors

Ensure compliance in preparation of these currency transaction reports and avoid sanctions for noncompliance.

This course will educate and assist United States persons who have the obligation to file any of the numerous currency transaction reports and the professionals who prepare and file these forms on behalf of their clients. The information contained in these forms assists law enforcement in its anti-money laundering efforts. When businesses and individuals comply with the reporting laws, they provide authorities with an audit trail to stop tax evasion, drug dealing, terrorist financing, and other criminal activities. The government is very serious about these currency transaction reports and has put in place serious civil and criminal penalties for noncompliance. This information is critical for persons involved in the preparation of these currency transaction reports so that they can be confident that their efforts comply with the law and that they and their employers will avoid sanctions for noncompliance.

65 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Governments Enforcement Strategy

Currency Reporting Forms and Statutes That Apply to Currency Reporting and Money Laundering Violations

  • How to Properly Prepare Title 31 Forms
  • How to Properly Prepare Title 26 Forms
  • Summary of Forms

Sanctions for Noncompliance and How to Avoid Them

  • Title 31 - Currency Reporting Offenses
  • Title 31 - Criminal Penalties
  • Title 31 - Civil Penalties
  • Title 26 - Currency Reporting Offenses: Title 26 U.S.C.
  • § 6050I - Returns Relating to Cash Received in Trade of Business
  • Title 26 - Civil Penalties
  • Title 18 - Money Laundering Offenses
  • Title 18 - Criminal Penalties
  • Forfeiture Provisions for Title 18
  • Comparison of Title 18 U.S.C. § 1956 and § 1957
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on June 14, 2022.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.0
     
  • Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.1
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • GA CLE 1.0
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • MO CLE 1.3
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • ND CLE 1.0
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
     
  • NH MCLE 1.1
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 64 Minutes.
     
  • NJ CLE
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 0.0 hours of total CLE credit.
     
  • NM CLE 1.0
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
     
  • NV CLE 1.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WI CLE 1.0
     
  • This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.3
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • AK CLE 1.0
     
  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • MO CLE 1.3
     
  • NJ CLE 1.3
     
  • NM CLE 1.0
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • VT CLE 1.0
     
  • WV MCLE 1.3
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Sandra R. Brown

Sandra R. Brown

Hochman Salkin Toscher Perez P.C.

  • Principal at Hochman Salkin Toscher Perez P.C.
  • Practice focuses on complex and sophisticated civil tax controversies and litigation in federal, state, and tax court as well as representing individuals and organizations in criminal tax investigations and prosecutions, including related grand jury matters, court litigation, and appeals
  • Broad range of experience in complex civil tax controversies and criminal tax investigations and litigation, includes having personally handled over 2,000 cases on behalf of the United States
  • She is a fellow of the American College of Tax Counsel, co-chair of the ABA’s Section of Taxation’s Sentencing Subcommittee, Criminal & Civil Tax Penalties (CCTP) Committee, co-chair of the NYU Institute on Federal Taxation, Tax Controversies Section, as well as a member of the California State Bar, ABA Tax Section & Criminal Justice Section, NYU Tax Controversy Institute Advisory Committee, Beverly Hills Bar Association Taxation Section, Federal Bar Association, California Lawyers Association Tax Section, and the Women’s White Collar Defense Association
  • LL.M. degree in taxation, University of Denver
Edward M. Robbins, Jr.

Edward M. Robbins, Jr.

Hochman Salkin Toscher Perez P.C.

  • Principal at Hochman Salkin Toscher Perez P.C.
  • Nationally recognized tax professional, and is often called upon to participate in programs dealing with civil and criminal tax practice, procedure, controversy, and litigation matters, before government agencies and professional organizations
  • Co-author of PLI’s two-volume tax treatise, IRS Practice and Procedure Desktop; has also been honored to serve as an adjunct law professor with Loyola Law School and Golden Gate University School of Law; and has written, lectured, and taught legal topics on U.S. tax procedure
  • Member of the American Bar Association, Tax Section, California State Bar’s Taxation Section, Beverly Hills Bar Association, Taxation Section, Los Angeles County Bar Association, Taxation Section, and American College of Tax Counsel
  • Certified Specialist in Taxation with the State Bar of California; admitted to the bars of the U.S. Court of Appeals, Eighth Circuit, Ninth Circuit, D.C. Circuit, U.S. District Court, Central, Eastern, Northern and Southern Districts of California, District of Hawaii, U.S. Claims Court, U.S. Tax Court, State Bar of California, State Bar of Hawaii, the District of Columbia Bar, and the U.S. Supreme Court
  • LL.M. degree, magna cum laude, University of San Diego; J.D. degree, with honors, Golden Gate University; B.S.E.E. degree, with honors, Ohio State University
Michel R. Stein

Michel R. Stein

Hochman Salkin Toscher Perez P.C.

  • Principal at Hochman Salkin Toscher Perez
  • Practice focuses on tax controversies, as well as tax planning for individuals, businesses, and corporations
  • For more than 20 years, he has represented individuals with sensitive issue civil tax examinations where substantial penalty issues may arise, and extensively advised individuals on foreign and domestic voluntary disclosures regarding foreign account and asset compliance matters
  • Certified specialist in taxation law by the State Bar of California, Board of Legal Specialization
  • LL.M. degree in taxation, NYU School of Law; graduate, University of California, Hastings College of the Law
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 409914
Published 2022
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