The generic term CTR is a completely different animal, and utilizes Form 8300, not to be confused with anything related to gambling.
Currency Transaction Report by Casinos, CTRC, Form 8362 was the form used by all casinos (except Nevada) to report currency transactions that exceed $10k in one business day. The business day being whatever 24 hour time frame the casino has established as a business day. This form was obsoleted as of September, 2003. The new form is FinCEN Form 103, and carries the same title Currency Transaction Report by Casinos. FinCen is the Financial Crimes enforcement network.
Currency Transaction Report by Casinos - Nevada, CTRC-N, Form 8852 is the form still in use for Nevada transactions. Nevada Regulation 6A is the guiding text for the completion of this form.
Penalties
Civil and/or criminal penalties may be assessed for the failure to file a CTRC (recall the recent Mirage fiasco), or supply information, or for filing a false or fraudulent CTRC. See 31 U.S.C. 5321, 5322, and 5324.
It is pertinent to be aware that any attempt to avoid a CTRC, or CTRC-N is considered structuring. Structuring will get you into major difficulty should you be caught doing so.
It is also pertinent to note that the CTRC (and more than likely the CTRC-N) forms are now under the purview of the Finanacial Crimes Enforcement Network. With that title, and the security issues our world is confronted with, I don't think it would be a positive experience to be involved with FinCen!
The link below will provide (a tad slow to load) a copy of FinCen Form 103. For those interested in the nuances of this Form, I would highly recommend the Form be printed and the mice-type be read carefully. While several posters are well-intended with their viewpoints of CTRCs, reading the requirements of this form for oneself might be the best source of information.
One who plays at this level might consider a discussion with a tax attorney to assuage any concerns over their play.
The above is offered merely for informational purposes, in no way should I be quoted, or referenced as a CTRC or CTRC-N source.
Print a copy of FinCen 103
Print a copy of Nevada Regulation 6A
Surf irs.gov for additional info
Sorry, couldn't link the IRS URL.
It's www.irs.gov/pub/irs-fill/8362.pdf
If unable, just use the search tool on www.IRS.gov
Regards,
Wildcard
