What is the transfer limit before a bank has to report it to the IRS? - GoFuckYourself.com

robfantasy · 01-23-2005, 10:50 PM

a long time ago it was anything over $3000 the bank had to report to the IRS.

is this a myth?

what is the limit now?

media · 01-23-2005, 10:50 PM

I've heard it is different from bank to bank.. I've heard my bank reports movement of $5000 or more....

Pete-KT · 01-23-2005, 10:51 PM

I know if you deposit more then 10,000 you have to fill out an IRS form, i dont know about transfers thought i thought it was the same]

Pete

fl_prn_str · 01-23-2005, 10:52 PM

most everything is at the Ten Thousand Dollar Limit....

Young · 01-23-2005, 10:55 PM

$5,000 deposit gets held up for a couple weeks at my local Fleet/Bank of America. $10,000 cash withdrawal gets you met at the airport by federal agents

. I've experienced both.

pxxx · 01-23-2005, 10:56 PM

Quote:

Originally Posted by Pete-KT

I know if you deposit more then 10,000 you have to fill out an IRS form, i dont know about transfers thought i thought it was the same]

Pete

This is what i know aswell.

MailSolutions · 01-23-2005, 11:00 PM

What about slow transfers over a period of time... like a few thousand here and here

Jace · 01-23-2005, 11:01 PM

usually $10k is the standard for tax evaders and drug dealers

robfantasy · 01-23-2005, 11:07 PM

Quote:

Originally Posted by media

I've heard it is different from bank to bank.. I've heard my bank reports movement of $5000 or more....

hey media, know anything about BOA?

robfantasy · 01-23-2005, 11:08 PM

Quote:

Originally Posted by JaceXXX

usually $10k is the standard for tax evaders and drug dealers

haaha

Magg · 01-23-2005, 11:09 PM

$5000 at BOA

Calvinguy · 01-23-2005, 11:15 PM

Quote:

Originally Posted by Young

$5,000 deposit gets held up for a couple weeks at my local Fleet/Bank of America. $10,000 cash withdrawal gets you met at the airport by federal agents

. I've experienced both.

Thats fucked up

pornRefinery · 01-23-2005, 11:18 PM

Quote:

Originally Posted by robfantasy

a long time ago it was anything over $3000 the bank had to report to the IRS.

is this a myth?

what is the limit now?

Usually they report to your local state agencies (dunno which ones exactly) for anything over $3K and then to the IRS if you go over $10K.

Pleasurepays · 01-23-2005, 11:24 PM

$10,000 has always been the cutoff where deposits, withdrawals, wire transfers or moving money out of the country or bringing it in is concerned.

Persius · 01-23-2005, 11:25 PM

its 10k.... in usa that is

rebel23 · 01-23-2005, 11:27 PM

Quote:

Originally Posted by Pleasurepays

$10,000 has always been the cutoff where deposits, withdrawals, wire transfers or moving money out of the country or bringing it in is concerned.

this amount stays static for all of time or is it adjusted to account for inflation?

theking · 01-23-2005, 11:29 PM

Quote:

Originally Posted by Pete-KT

I know if you deposit more then 10,000 you have to fill out an IRS form, i dont know about transfers thought i thought it was the same]

Pete

Maybe at your bank. I have deposited many times that amount and have never in my life had to fill out an IRS form.

SweetT · 01-23-2005, 11:31 PM

As much as I am sure that noone here would intentionally lead you astray, might I suggest that you consult a CPA in your area and ask him these questions.

Just another Public Service Message from yours truly.

--T

KRL · 01-23-2005, 11:34 PM

What the fuck are you guys jizzing about. LOL

If the bank knows you as a high deposit customer and knows your business they don't sit there sending reports to the IRS everyday. You know how many reports the banks and IRS would have to process if they did this for every company that deposits over $10K a day. Christ, come on.

Now if you're Tony Montana and you come in with a suitcase full of cash, that's another story.

ztik · 01-23-2005, 11:38 PM

Quote:

Originally Posted by KRL

What the fuck are you guys jizzing about. LOL

If the bank knows you as a high deposit customer and knows your business they don't sit there sending reports to the IRS everyday. You know how many reports the banks and IRS would have to process if they did this for every company that deposits over $10K a day. Christ, come on.

Now if you're Tony Montana and you come in with a suitcase full of cash, that's another story.

Yup, you are correct. Ive never once had to fill out any special forms and had any questions asked.

Nicky · 01-23-2005, 11:39 PM

here in sweden its $10,000

Tony Montana · 01-23-2005, 11:41 PM

Quote:

Originally Posted by KRL

What the fuck are you guys jizzing about. LOL

If the bank knows you as a high deposit customer and knows your business they don't sit there sending reports to the IRS everyday. You know how many reports the banks and IRS would have to process if they did this for every company that deposits over $10K a day. Christ, come on.

Now if you're Tony Montana and you come in with a suitcase full of cash, that's another story.

How did you know I deposite money like that?

theking · 01-23-2005, 11:41 PM

Quote:

Originally Posted by KRL

What the fuck are you guys jizzing about. LOL

If the bank knows you as a high deposit customer and knows your business they don't sit there sending reports to the IRS everyday. You know how many reports the banks and IRS would have to process if they did this for every company that deposits over $10K a day. Christ, come on.

Now if you're Tony Montana and you come in with a suitcase full of cash, that's another story.

I think you are correct. I have made large deposits and large withdrawals without problem. I have never filled out an IRS form for any deposit or withdrawal...but I of course do not know if the bank reports such transactions to the IRS or not. I think all one would have to do is ask their bank. What difference does it make anyhow...providing you are not doing anything illegal?

TheMob · 01-23-2005, 11:45 PM

I thought it was 10k

Jaymus. · 01-23-2005, 11:50 PM

Anyone know what the rules are for Canada?

media · 01-23-2005, 11:52 PM

Quote:

Originally Posted by robfantasy

hey media, know anything about BOA?

That is BOA.... I've been banking with them since I was 16... I'm prolly going to be moving some money to Washington Mutual, and My wifes Credit Union.. I wanna refinance my ride through the credit union...

I would talk to your bank manager just to make sure.. They are used to questions like that, so don't even trip about asking about it.. Just say that sometimes you get large payments, and you'd like to know about procedures they have in place when money changes hands...

Dirty D · 01-24-2005, 12:19 AM

I just deposited over $250,000

No bullshit. This is going to be a great year!

No forms to fill out...

The banks DO report the transfer to the IRS.
Deposits are not really what they are looking for...

Cash Withdraws are the red flag. Money Laundering and all that.
Customs has a $10k limit, they use this information to see who may have more than $10k on them.

I have been asked many times by customs if I have more than $10k in cash.
My response is always "Not with me."

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$5 submissions · 01-24-2005, 02:31 AM

Quote:

Originally Posted by Pleasurepays

$10,000 has always been the cutoff where deposits, withdrawals, wire transfers or moving money out of the country or bringing it in is concerned.

That's what I've always thought. However, if you do bank to bank transfers to certain countries, once you pass $3K the recieving bank will ask for your social security number

DutchTeenCash · 01-24-2005, 03:55 AM

its 10k globally

01-24-2005, 04:01 AM

Quote:

Originally Posted by fl_prn_str

most everything is at the Ten Thousand Dollar Limit....

I know in Canada it is...

polish_aristocrat · 01-24-2005, 04:03 AM

It's funny that in America they look at you suspicios if you pay with cash...

In Europe it's pretty normal to pay with cash and f.e in Poland when you buy a car lets' say for $20k, you usually bring all the money in cash to the dealer...

VanessaG · 01-24-2005, 04:12 AM

Quote:

Originally Posted by thinkx

its 10k globally

That´s correct!

skillfull · 01-24-2005, 07:02 AM

Quote:

Originally Posted by Jaymus.

Anyone know what the rules are for Canada?

in Canada, they fill and form and send it to the tax evasion office if they suspect anything in your deposit/withdrawal

drunk chicks working for CCRA rules ;)

Triple 6 · 01-24-2005, 07:06 AM

what about western union?

Trax · 01-24-2005, 07:09 AM

note to self: do pay taxes
lol
jk

ytcracker · 01-24-2005, 07:17 AM

10k is i think the limit for intercountry travel

as far as banks if you have a record of high volume transactions they usually dont even bat an eye

edit : just read thread and i think im right

james_clickmemedia · 01-24-2005, 07:27 AM

Their is no hard and fast rule. Firstly it is large cash deposits they watch more than checks etc. What they are looking for is suspicious activity on accounts so they could file a report on as little as a few thousand dollars.

01-23-2005, 10:50 PM	#1
robfantasy Confirmed User Industry Role: Join Date: Jun 2002 Location: Medellin, Colombia Posts: 6,445	What is the transfer limit before a bank has to report it to the IRS? a long time ago it was anything over $3000 the bank had to report to the IRS. is this a myth? what is the limit now? __________________ Looking to speak w/ high volume nutra CPA affiliates or networks... msg me

01-23-2005, 10:50 PM	#2
media Confirmed Moneymaker Industry Role: Join Date: Apr 2002 Location: Eugene, OR It's Like Jail, Only with Trees! Posts: 9,852	I've heard it is different from bank to bank.. I've heard my bank reports movement of $5000 or more.... __________________ I'm here for the violence!

01-23-2005, 11:31 PM	#18
SweetT Shank-A-Potamus Join Date: Jan 2002 Location: Atlanta, Georgia USA Posts: 1,756	As much as I am sure that noone here would intentionally lead you astray, might I suggest that you consult a CPA in your area and ask him these questions. Just another Public Service Message from yours truly. --T __________________

01-23-2005, 11:34 PM	#19
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	What the fuck are you guys jizzing about. LOL If the bank knows you as a high deposit customer and knows your business they don't sit there sending reports to the IRS everyday. You know how many reports the banks and IRS would have to process if they did this for every company that deposits over $10K a day. Christ, come on. Now if you're Tony Montana and you come in with a suitcase full of cash, that's another story. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

01-23-2005, 11:39 PM	#21
Nicky Confirmed User Industry Role: Join Date: Mar 2003 Location: Sweden Posts: 30,069	here in sweden its $10,000 __________________ gfynicky @ gmail.com

01-23-2005, 10:51 PM	#3
Pete-KT Workin With The Devil Industry Role: Join Date: Oct 2004 Location: West Bloomfield, MI Posts: 51,532	I know if you deposit more then 10,000 you have to fill out an IRS form, i dont know about transfers thought i thought it was the same] Pete

01-23-2005, 10:52 PM	#4
fl_prn_str Confirmed User Industry Role: Join Date: Aug 2004 Location: Tampa, FL Posts: 5,736	most everything is at the Ten Thousand Dollar Limit....

01-23-2005, 10:55 PM	#5
Young Bland for life Industry Role: Join Date: Nov 2004 Posts: 10,468	$5,000 deposit gets held up for a couple weeks at my local Fleet/Bank of America. $10,000 cash withdrawal gets you met at the airport by federal agents . I've experienced both.

01-23-2005, 11:00 PM	#7
MailSolutions So Fucking Banned Join Date: Dec 2004 Posts: 92	What about slow transfers over a period of time... like a few thousand here and here

01-23-2005, 11:01 PM	#8
Jace FBOP Class Of 2013 Industry Role: Join Date: Jan 2004 Location: bumfuck, ky Posts: 35,562	usually $10k is the standard for tax evaders and drug dealers

01-23-2005, 11:09 PM	#11
Magg Confirmed User Join Date: Feb 2004 Location: ICQ: 132497047 Posts: 4,467	$5000 at BOA

01-23-2005, 11:24 PM	#14
Pleasurepays BANNED - SUPPORTING TUBES Join Date: Aug 2002 Location: I live in a pile of boogers Posts: 11,913	$10,000 has always been the cutoff where deposits, withdrawals, wire transfers or moving money out of the country or bringing it in is concerned.

01-23-2005, 11:25 PM	#15
Persius Tap into MOBILE! Industry Role: Join Date: Jul 2003 Location: Hollywood Posts: 11,779	its 10k.... in usa that is

01-23-2005, 11:45 PM	#24
TheMob Confirmed User Join Date: Jan 2003 Location: 2006 Posts: 8,584	I thought it was 10k

01-23-2005, 11:50 PM	#25
Jaymus. Confirmed User Join Date: Jan 2005 Location: BC. Posts: 304	Anyone know what the rules are for Canada?

01-24-2005, 12:19 AM	#27
Dirty D Confirmed User Join Date: May 2002 Location: Paying Webmasters Millions Since 1999 Posts: 4,044	I just deposited over $250,000 No bullshit. This is going to be a great year! No forms to fill out... The banks DO report the transfer to the IRS. Deposits are not really what they are looking for... Cash Withdraws are the red flag. Money Laundering and all that. Customs has a $10k limit, they use this information to see who may have more than $10k on them. I have been asked many times by customs if I have more than $10k in cash. My response is always "Not with me." Want to participate in the success of my sites? Thousands of affiliate webmasters are getting paid. http://www.HowIgotRich.com Home of the $1,000 Webmaster Bonus __________________ Dirty D - ICQ #1326843 - $1 Million Dollars of Bonus Money - 8,000+ FHG! Glory Hole Girlz - Crack Whore Confessions - Tampa Bukkake - Slut Wife Training - Fuck a Fan Electricity Play - Porn Video Drive - Theater Sluts - Skunk Riley - Ukraine Amateurs - Strapon Sessions

01-24-2005, 03:55 AM	#29
DutchTeenCash I like Dutch Girls Join Date: Feb 2003 Location: dutchteencash.com Posts: 21,684	its 10k globally __________________ ICQ 16 91 547 - SKYPE dutchteencash bob AT dutchteencash DOT com ... did you see our newest Sweet Natural Girl Priscilla (18)?

01-24-2005, 04:03 AM	#31
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	It's funny that in America they look at you suspicios if you pay with cash... In Europe it's pretty normal to pay with cash and f.e in Poland when you buy a car lets' say for $20k, you usually bring all the money in cash to the dealer...

01-24-2005, 07:06 AM	#34
Triple 6 Confirmed User Join Date: Feb 2002 Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: Location: isN'T everything Posts: 5,394	what about western union? __________________ SIG TOO SMALL! Maximum 1200x600 button and no more than 30 text lines of ALL SIZES and COLORS. Unless your sig is for a GFY top banner sponsor, then you may use a 6240x4800 instead of a 1024x800.

01-24-2005, 07:09 AM	#35
Trax [----------------------] Join Date: Aug 2001 Posts: 14,486	note to self: do pay taxes lol jk

01-24-2005, 07:17 AM	#36
ytcracker stc is the greatest Join Date: Dec 2002 Location: rip sean murray Posts: 12,403	10k is i think the limit for intercountry travel as far as banks if you have a record of high volume transactions they usually dont even bat an eye edit : just read thread and i think im right __________________ www.ytcracker.com \| www.digitalgangster.com i love you

01-24-2005, 07:27 AM	#37
james_clickmemedia Confirmed User Join Date: Apr 2003 Location: Texas / London Posts: 2,204	Their is no hard and fast rule. Firstly it is large cash deposits they watch more than checks etc. What they are looking for is suspicious activity on accounts so they could file a report on as little as a few thousand dollars. __________________ $ CLICKMEMEDIA.COM $ CONVERTING ETHNIC TRAFFIC SINCE 1998 ~ $30+PPS BLACK-X.COM - NEW BLACK EX-GF SITE CLICKMEMEDIA.COM ~ ICQ - 8788771