NATIONAL CREDIT UNION ADMINISTRATION NATIONAL CREDIT UNION SHARE INSURANCE FUND

LETTER NO. 172

DATE: June 1995

Dear Board of Directors:

The Bank Secrecy Act requires that financial institutions, including credit unions, file a Currency Transaction Report (CTR) Form 4789 on each single or multiple deposit, withdrawal, exchange of currency or other payment or transfer which involves currency of more than $10,000. The Department of the Treasury has recently revised the CTR.

Use of the revised form is effective October 1, 1995. Credit unions must continue to use the current CTR Form 4789 (Rev. July 1994) for reportable transactions that occur before October 1, 1995.

Enclosed is a copy of the Department of the Treasury's press release, and a revised CTR with instructions. Again, please remember, use of the revised form is effective October 1, 1995. An advance copy of the revised CTR Form 4789 (Rev. October 1995) may be ordered from the Internal Revenue Service (IRS) Forms Distribution Centers by calling 1-800-TAX-Form (1-800-829-3676).

If you have any questions, please contact your regional office.

For the National Credit Union Administration Board,

Norman E. D'Amours
Chairman