What is the maximum amount of cash you can deposit w/o filling out papers?

[n0cmonkey]

Blowing Republicans again?

 

[Mr N8]

Originally posted by: thomsbrain
i deposited $20,000 in an ATM and didn't have to fill out papers or get a call from anyone or anything. that doesn't mean i didn't get reported to the IRS but i didn't have to deal with anyone.

If they have enough info from your account, they can fill it out without calling you. They are only required to fill out as much info as possible.

Also, if you guys ever get asked for your info, just give it to them. If your reasons for having the cash are legit, it really won't make a difference. If you do refuse to give info, of try to structure your deposits, they will fill out a Suspicious Transaction Report, which is much worse than having a CTR filled out on you.

 

[jadinolf]

Originally posted by: Gibson486

Originally posted by: johngute
selling drugs is bad.

but profitable

Yep. Like my thousand dollar suit?

 

[HyTekJosh]

Originally posted by: vi_edit

Originally posted by: thomsbrain
i deposited $20,000 in an ATM and didn't have to fill out papers or get a call from anyone or anything. that doesn't mean i didn't get reported to the IRS but i didn't have to deal with anyone.

I've never felt trusting enough to deposit a $20 check into an ATM. Let alone $20,000.

It could just be me, but with something that big, I'd feel a bit more comfortable taking it to the bank and depositing it myself.

Believe it or not, I have had the tellers mess up more than anything. Never had a problem with depositting into the ATM.

 

[Snapster]

Originally posted by: tk149
Me <- works at bank and fills out some of these mysterious reports

Lots of misinformation and good information in this thread. I could explain exactly what you want to know, but I refuse to help someone launder money.

BTW, the IRS uses these reports to track money laundering. They don't care if Joe Average sold his car for cash. Now if Joe Average seems to be selling a car every week...

Here was me thinking there may have been something useful in that...........but alas no.

 

[RossMAN]

Originally posted by: tk149
Me <- works at bank and fills out some of these mysterious reports

Lots of misinformation and good information in this thread. I could explain exactly what you want to know, but I refuse to help someone launder money.

BTW, the IRS uses these reports to track money laundering. They don't care if Joe Average sold his car for cash. Now if Joe Average seems to be selling a car every week...

CTR = Currency Transaction Report.

SAR = Suspicious Activity Report which is reported to FinCen.

Next

 

[jadinolf]

Originally posted by: Gibson486
banks don't care where money is going or coming from.....

Who started the rumor about filling out papers? What's worse is people agreeing with them.

 

[PKPunk]

I heard after 9/11 they lowered amount of cash you depost into your back account without geting reported to athorites. Something about gather information about people acting as money holders for terrorist groups.

 

[rahvin]

Personally I'm very wary of government monitoring of this type of stuff but really you end up reporting anything significant anyway when you do your 1040 so really the only one that has anything to fear from large transactions is someone doing something illegal. Large cash transactions are fairly rare these days with everything being electronic anyway. I'm personally willing to surrendor that little bit of privacy in the name of preventing money laundering and terrorist funding.

 

[Shawn]

Originally posted by: NL5

Originally posted by: Passions
I want my penpal friend is very manner girl or boy. If you have some joked or fun It's very glad to me. and wI hope our relationship is longtime ago. we will credible friend. our country, culture..etc is different. but we are open our mind. It's all. you can open you mind to me, then the other is not important ^O^~

WTF?!?!?!?!

where did that come from?

 

[Rightwinger]

Originally posted by: MogulMonster

Originally posted by: Rightwinger
RossMAN is right.

However the way it was explained to me as I was getting my benjamins was any SINGLE transaction exceeding $10,000.

So I can hit branch A and deposit $10,000.

I hit branch B and deposit $10,000.

I hit branch C and deposit $10,000.

And at the close of business I've got $30,000 in the same account.

The other trick is to open seperate accounts at seperate banks with lots of locations. I have an account with a local bank that I've hit 3-4 branches in one day and had $28,000 in incriments of $Xk each with no CTR filled out.

No, that's wrong. It is total in 1 business day. So, Saturday - Monday usually would count as 1 business day, also. If your bank has a cutoff time of 3pm, then anything from past 3pm carrying over to the next day would count as well.

Comptrollers Handbook

1. IRS Form 4789 Currency Transaction Report (CTR): A CTR must be
for each deposit, withdrawal, exchange of currency, or other payment
transfer, by, through or to a financial institution, which involves a
transaction in currency of more than $10,000. Multiple currency
transactions must be treated as a single transaction if the financial
institution has knowledge that: (a) they are conducted by or on behalf
the same person; and, (b) they result in cash received or disbursed
financial institution of more than $10,000. (31 CFR 103.22)

A TRANSACTION is one event. $10,000.01 withdrawl is one event. Later that day a $1 withdrawl is a seperat event.