In which scenario is a Currency Transaction Report (CTR) NOT required?

A Currency Transaction Report (CTR) is required for cash transactions exceeding $10,000 within a single day. In the specified scenario where a client pays a $100,000 single premium annuity with a personal check, the transaction does not involve cash. Since CTRs are specifically concerned with cash transactions, there would be no requirement to file a CTR for a payment made by check, regardless of the amount involved.

In contrast, the other scenarios presented involve cash transactions that exceed the $10,000 threshold, thus requiring the filing of a CTR. For example, paying off a loan with $12,000 in cash directly falls under the reporting requirement because it exceeds the limit for cash transactions. Similarly, investing more than $10,000 in cash into a mutual fund account and depositing over $10,000 into a certificate of deposit also qualify as cash transactions that necessitate a CTR. Therefore, the distinction lies in the mode of payment, with check payments not triggering CTR requirements, unlike cash payments.