Topics Topics Help/Instructions Help Edit Profile Profile Member List Register Paatha Gnyapakaalu - Archives from Old DB  
Search New Posts 1 | 2 | 8 Hours Search New Posts 1 | 3 | 7 Days Search Search Tree View Tree View Latest tweets Live Tweets   Hide Images

Rate this post by selecting a number. 1 is the worst and 5 is the best.

    (Worst)    1    2    3    4    5     (Best)

Author Message
Top of pagePrevious messageNext messageBottom of page Link to this message

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

Topics | Last Hour | Last Day | Last Week | Tree View | Search | Help/Instructions | Program Credits Administration