TTR Guide

Threshold Transaction Reports (TTR): Complete Guide

A Threshold Transaction Report must be filed with AUSTRAC when a designated service involves $10,000 or more in physical cash (or its foreign currency equivalent). This guide explains when to report, how to submit, and the structuring rules you need to know.

By AML Mate Published
Updated & sources checked

Cash threshold
$10,000 or moreAUD or foreign currency equivalent, for a designated service
Reporting deadline
10 business daysAfter the day the transaction takes place
Where to submit
AUSTRAC OnlinePrepare your details, then lodge in the portal

What is a TTR?

A Threshold Transaction Report (TTR) is a report you must file with AUSTRAC when your business provides a designated service involving a transaction of $10,000 or more in physical currency (Australian dollars or foreign currency equivalent). The purpose is to help detect, deter, and disrupt criminal activity including money laundering and terrorism financing.

“Physical currency” means cash: banknotes and coins. It does not include cheques, electronic transfers, or card payments. However, if a customer pays partly in cash and the cash component is $10,000 or more, a TTR is required for the cash portion.

Not sure whether this applies to your practice, or when a report would actually fall due? The free check works out whether you are captured and, if a client handed you $10,000 in cash today, the exact date the TTR would be due. No signup.

When is a threshold transaction report required?

A threshold transaction report is required when physical cash of $10,000 or more (or the foreign currency equivalent) is received or provided as part of a designated service. This applies to both receiving and paying out cash. A TTR is not required for every cash transaction, it is not triggered by a transaction merely appearing suspicious (reasonable grounds for suspicion may require an SMR), and you do not wait for an instruction from AUSTRAC: the obligation arises automatically.

Deadline: TTRs must be submitted within 10 business days after the day the transaction takes place. The SMR and TTR deadline calculator works out the exact day, including the public holidays in your state. Check AUSTRAC's TTR requirements.

Key principles

  • Each individual cash payment is a separate transaction. A single payment can cover multiple services; do not combine or aggregate transactions into a single TTR
  • If a customer makes two separate $12,000 cash deposits, you file two separate TTRs
  • If a customer splits $14,000 into an $8,000 and a $6,000 deposit to two different accounts, neither exceeds the threshold: no TTR is required (but consider whether structuring is occurring)

Exemptions

TTRs are not required when:

  • The service is provided at a foreign permanent establishment of your business, except for remittance network providers
  • The transaction is between two authorised deposit-taking institutions (ADIs)
  • You and your customer are both using Exchange Settlement Accounts (ESAs)
  • You only arrange the service (as an AFSL holder) rather than providing it directly

Direct bank deposit exception

If a customer deposits $10,000 or more in cash directly into your bank account, it is the financial institution (not you) that must submit the TTR. However, if you then use those funds to provide a designated service involving $10,000 or more in cash, you must file a TTR for your transaction.

How to submit

Step 1: Log into AUSTRAC Online

Access AUSTRAC Online at online.apps.austrac.gov.au and navigate to the transaction reporting menu.

Step 2: Select the correct TTR form

Businesses enrolled after 30 March 2026 must use the new TTR form. Businesses already enrolled on 30 March 2026 can transition between 1 July 2026 and 30 March 2029.

Older guidance lists financial and bullion, gambling, investment/superannuation/insurance and money services forms. These are legacy forms. Check the current AUSTRAC form requirements for your enrolment date.

Step 3: Complete the required information

The TTR requires details about:

  • The customer: full name, address, date of birth, identity verification documents, account details
  • The individual who conducted the transaction: if different from the customer (for example, an employee depositing business takings or a family member acting on behalf of someone)
  • The transaction: method, amount, currency, date, and purpose
  • The recipient: if the funds are being sent to someone other than the customer

Identity verification must use reliable, independent documentation or electronic sources. The specific information required varies by customer type (individual, company, trust) and the type of designated service.

The new form also asks for your business and reporter details, other parties and their roles, and the designated services involved. Use AUSTRAC's form for the complete required fields. Do not include tax file numbers.

Step 4: Submit

Use individual data entry in AUSTRAC Online, or the applicable bulk file upload method. Follow the instructions for your form version. Legacy spreadsheet upload and data extraction guidance should not be treated as instructions for the new form. Check AUSTRAC's current reporting resources before preparing a bulk file.

You lodge the report in AUSTRAC Online. Saving or exporting a TTR in AML Mate does not submit it to AUSTRAC.

When someone else conducts the transaction

If the person making the cash transaction is not the customer (for example, an employee depositing business takings, or a family member acting on behalf of the account holder), you must clearly note this in the TTR and include the details of the individual conducting the transaction, including their relationship to the customer and authority to act.

Check the person's identity and authority against the account holder and customer records. Consider whether their activity fits the customer's profile, including unusual locations or patterns.

Non-face-to-face transactions

For a night safe or express deposit box transaction, record the circumstances and the customer's details. Do not assume that a non-face-to-face transaction removes the need to report other parties. Check the fields required by your applicable TTR form and CDD obligations.

Multiple transactions and structuring

Each transaction is separate

Each individual cash payment is a separate transaction, even if it covers multiple services. You must file a separate TTR for each cash transaction of $10,000 or more. Do not combine them.

What is structuring?

Structuring is a criminal offence. It occurs when a person deliberately splits a transaction of $10,000 or more into smaller amounts to avoid triggering a TTR. Common examples include:

  • A customer depositing $9,500 on Monday and $9,500 on Tuesday instead of $19,000 in one transaction
  • A customer making multiple purchases just below $10,000 in cash at a jewellery store over several days
  • A customer splitting a large cash payment between different branches or accounts to keep each below the threshold

When to file an SMR for suspected structuring

If you have reasonable grounds to suspect a customer is structuring transactions (that is, the sole or dominant purpose of splitting the transaction is to avoid reporting), you must file a Suspicious Matter Report (SMR). An SMR is required even though the individual transactions are below the $10,000 threshold. If you continue providing the designated service, conduct enhanced customer due diligence.

However, not all split transactions are structuring. A customer may have a reasonable explanation: for example, an ATM with a $5,000 deposit limit forcing multiple deposits, or a post office agent with a $7,000 limit. Your transaction monitoring procedures must include triggers for investigating potential structuring and assessing whether a reasonable explanation exists.

Examples

  • Customer deposits $4,000 then $7,000 in cash the same day, then buys a bank cheque with $6,500 in cash and deposits $9,000 the next day. Previous income was social security only. SMR required if investigation establishes reasonable grounds to suspect structuring. The amounts alone do not establish suspicion.
  • Customer deposits $15,000 via an ATM with a $5,000 limit across three transactions of $5,000 each. No TTR required: plausible reason (ATM limit), each under threshold.
  • Customer deposits $12,000 and $15,000 to two separate accounts. TTR required for both cash deposits: each exceeds the threshold.
  • Customer buys a $10,000 bank cheque with cash and makes a separate $5,000 cash deposit totalling $15,000. TTR required for the cheque only: only the cheque purchase meets the cash threshold.

Common mistakes

  • Combining transactions: Each $10,000+ cash transaction is a separate TTR: do not aggregate multiple transactions into one report
  • Missing the 10 business days deadline: Penalties apply for late submission. Set up internal processes to ensure TTRs are filed promptly.
  • Not identifying the transacting individual: If someone other than the customer conducts the transaction, their details must be recorded
  • Ignoring foreign currency: The $10,000 threshold applies to the Australian dollar equivalent of foreign currency transactions
  • Assuming split transactions are fine: If you have reasonable grounds to suspect the purpose of splitting is to avoid reporting, you must file an SMR for structuring
  • Incomplete customer information: Identity details must be verified using reliable, independent documentation. Incomplete records can result in compliance action.

Penalties for non-compliance

Failing to submit a TTR within 10 business days can result in penalties of up to 20,000 penalty units for individuals or 100,000 penalty units for body corporates. AUSTRAC takes late and non-submission seriously. These reports are critical to their ability to detect financial crime. See sections 43 and 175 of the AML/CTF Act.

PEP considerations

If the customer involved in a threshold transaction is a high-risk Politically Exposed Person (PEP), you must apply full customer identification checks and Enhanced Due Diligence. This includes all foreign PEPs and any domestic or international organisation PEPs identified as high ML/TF risk. Family members and close associates can also fall within the PEP definitions. Check the applicable definition and relationship. See AUSTRAC's PEP guidance.

How AML Mate supports TTR reporting

  • Client pre-fill: Select a client to copy available customer details into your report. Review them and enter the transaction details.
  • Threshold review: Scan recorded cash transactions for threshold and potential structuring flags. Review the results against your records.
  • Deadline tracking: View the recorded reporting deadline and reminders for outstanding report records.
  • Guided form: Prepare a draft, check validation messages and review the details before marking it ready to lodge.
  • Report records: Keep drafts and exports, then record your AUSTRAC lodgement reference and status.

You lodge the report in AUSTRAC Online. Saving or exporting a TTR in AML Mate does not submit it to AUSTRAC. AML Mate does not verify lodgement with AUSTRAC.

Frequently asked questions

Does the $10,000 threshold include GST?

The threshold applies to the total amount of physical currency transferred. This is the gross amount, which would include any GST component.

What if a customer deposits $10,000 cash into my business bank account?

If the customer deposits directly into your bank account, the financial institution submits the TTR for that deposit. If you separately provide a designated service involving a cash transaction of $10,000 or more, you must file a TTR for that transaction.

Do electronic transfers count?

No. TTRs are only for physical currency (cash) transactions. Electronic transfers, card payments, cheques, and other non-cash methods do not trigger TTR obligations. However, suspicious electronic transfers may still require an SMR.

What if the customer refuses to provide ID?

If a customer refuses to provide identification for a threshold transaction, you should not proceed without meeting the applicable customer due diligence requirements. Consider whether the refusal gives you reasonable grounds for suspicion and warrants an SMR.

Resources

Sources checked 14 October 2026.

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This guide is based on AUSTRAC's publicly available guidance. It does not constitute legal or compliance advice. Consult a licensed compliance professional for complex situations.