more than what deposit amount are U.S. banks required to report to the government/FDIC? $5,000, $10,000?

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more than what deposit amount are U.S. banks required to report to the government/FDIC? $5,000, $10,000?

2006-07-23 13:12:14 · 5 answers · asked by ibiz99 1 in Business & Finance ➔ Personal Finance

5 answers

If you deposit or withdraw over $10,000 in cash on one business day, the bank must report that to the IRS by filing a Currency Transaction Report.

2006-07-23 15:42:04 · answer #1 · answered by Rich B 3 · 3⤊ 0⤋

I believe that amount is now $5,000 but the banks are prohibited from telling you that or from telling you if they are reporting your transaction. If you are doing something totally legal, you should not have to worry anyway. If not, get an extra large dog.

2006-07-23 13:16:29 · answer #2 · answered by united9198 7 · 0⤊ 0⤋

$5000 if in cash.

2006-07-23 13:16:19 · answer #3 · answered by Dr. Bugly 4 · 0⤊ 0⤋

$10,000

2006-07-23 13:16:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋

$10,000

2006-07-23 13:16:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋