Musicfan
Bewarse Legend Username: Musicfan
Post Number: 63143 Registered: 05-2004 Posted From: 63.169.138.2
Rating: N/A Votes: 0 | Posted on Tuesday, June 13, 2017 - 5:10 pm: | |
quote:Cash transactions are tracked and if it's over $10,000 the bank will file a CTR (currency transaction report). This is going to happen, there's nothing you can do about it. Often people think that if they break up the deposits into amounts less than $10,000, they can avoid triggering the filing requirement by the bank. However, this is even worse because the banks will instead begin filing SARs (suspicious activity reports). Breaking a large cash deposit into smaller amounts with the intent of defeating the mandated CTR filing requirement is known as structuring and is a crime into itself. most of the time, cash that is structured but is from an otherwise legitimate source will be released back to the owner, however it is considered an "in rem" crime so you risk losing otherwise legitimate money solely for the act of breaking it into deposits. If you cannot easily source the money, as may be the case with a large cash inheritance, it could turn into a nightmare and cost a lot of money in legal fees. So again I recommend that you simply deposit the money in one lump sum. There will be one CTR and perhaps it will be followed up upon. If the original funds are from legitimate sources then you should not have a problem.
google lo oka Q&A regarding how do I move large amount to bank account #DJ Audio Review
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