I believe USA Banks are required to report any deposits $10k or more to the IRS automatically.
Actually, US Banks are required to report ANY activity that they consider suspicious.
I just got turned into Homeland security for changing (coloring up) $3500 from fifties to hundreds. The bank teller told me I looked like someone up to something… Ya I was, I was on my way to a cash only auction.
Actually, US Banks are required to report ANY activity that they consider suspicious in any way to Homeland Security. The minium required limit for reporting to Homeland Security are transactions of $5000 or more.
I just got turned into Homeland Security for changing (coloring up) $3500 from fifties to hundreds. The bank teller told me I looked like someone up to something… Ya I was up to something, I was on my way to a cash only auction and I did not want a big bulging pocket full of cash…