cash deposits of 10k have to be reported to the IRS, who may ask questions. If you have a good reason, no problem even if they ask
same thing for cash purchases
wire transfers have a different standard, no fixed dollar amount that I'm aware of. The bank has to report it if they think it's suspicious behavior, or something like that.
same thing for cash purchases
wire transfers have a different standard, no fixed dollar amount that I'm aware of. The bank has to report it if they think it's suspicious behavior, or something like that.
gentlemen,
all financial institutions have specific guidelines to follow.
google "SAR" or "suspicious activity report"
here is what a Currency Transaction Report looks like:
http://www.fincen.gov/forms/files/fin104_ctr.pdf
here is what a SAR looks like:
http://www.fincen.gov/forms/files/f9022-47_sar-di.pdf
both of these forms have instructions attached, there you'll see the limits they are looking for... also keep in mind that when they say things like "aggregating $5,000 or more..." that means the total of all transactions.
so if you make 4 - $1500 transactions during a certain period you'll be breaking two laws instead of one.
stay thirsty my friends
all financial institutions have specific guidelines to follow.
google "SAR" or "suspicious activity report"
here is what a Currency Transaction Report looks like:
http://www.fincen.gov/forms/files/fin104_ctr.pdf
here is what a SAR looks like:
http://www.fincen.gov/forms/files/f9022-47_sar-di.pdf
both of these forms have instructions attached, there you'll see the limits they are looking for... also keep in mind that when they say things like "aggregating $5,000 or more..." that means the total of all transactions.
so if you make 4 - $1500 transactions during a certain period you'll be breaking two laws instead of one.
stay thirsty my friends
Speaking of banks this shit REALLY pissed me off.
My wife and I opened up a joint account when we got married. I had only left like 15 bucks in my other account. Haven't used it since like last June. Somehow or another a $10.95 service charge from my bank showed up on my account 4 times. The 2nd one caused me to overdraft and then so did the 3rd and 4th.
I have never seen this charge before in my life. Hell I didn't even know about it until a few weeks ago and they did all this back in December. Hit me with like a $42 overdraft fee on the 2nd, 3rd, and 4th time they took this shit out of my account. Then they started charging me a fee for having my account in the negative. They never sent shit to my new address which they had on file but claimed they had been sending it. So an account that I left with with a positive balance that I didn't touch for 8 months turned into being negative like $200 bucks.
Of course I have to go and cover all of their shit. I still don't even know what the $10.95 service charges were for.
Bunch of fucking crooks I tell ya. I guess I should have just closed the account but thought I would leave it open to put money in for buying my wife gifts and what not.
My wife and I opened up a joint account when we got married. I had only left like 15 bucks in my other account. Haven't used it since like last June. Somehow or another a $10.95 service charge from my bank showed up on my account 4 times. The 2nd one caused me to overdraft and then so did the 3rd and 4th.
I have never seen this charge before in my life. Hell I didn't even know about it until a few weeks ago and they did all this back in December. Hit me with like a $42 overdraft fee on the 2nd, 3rd, and 4th time they took this shit out of my account. Then they started charging me a fee for having my account in the negative. They never sent shit to my new address which they had on file but claimed they had been sending it. So an account that I left with with a positive balance that I didn't touch for 8 months turned into being negative like $200 bucks.
Of course I have to go and cover all of their shit. I still don't even know what the $10.95 service charges were for.
Bunch of fucking crooks I tell ya. I guess I should have just closed the account but thought I would leave it open to put money in for buying my wife gifts and what not.
