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?
is this a myth?
what is the limit now?
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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! -
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]
PeteComment
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most everything is at the Ten Thousand Dollar Limit....Comment
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$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.
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This is what i know aswell.Originally posted by Pete-KTComment
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What about slow transfers over a period of time... like a few thousand here and hereComment
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usually $10k is the standard for tax evaders and drug dealers
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Originally posted by media
hey media, know anything about BOA?Looking to speak w/ high volume nutra CPA affiliates or networks... msg meComment
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haahaOriginally posted by JaceXXXusually $10k is the standard for tax evaders and drug dealers
Looking to speak w/ high volume nutra CPA affiliates or networks... msg meComment
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$5000 at BOAComment
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Thats fucked upOriginally 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.Comment
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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.Originally posted by robfantasy
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$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.Comment
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its 10k.... in usa that isComment
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this amount stays static for all of time or is it adjusted to account for inflation?Originally posted by PleasurepaysICQ: 37378183Comment
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Maybe at your bank. I have deposited many times that amount and have never in my life had to fill out an IRS form.Originally posted by Pete-KTWhen you're running down my country hoss...you're walking on the fighting side of me!
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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
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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.
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Yup, you are correct. Ive never once had to fill out any special forms and had any questions asked.Originally posted by KRLWhat 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.
.Comment
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here in sweden its $10,000
gfynicky @ gmail.comComment
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How did you know I deposite money like that?Originally posted by KRLWhat 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 am a marketing Genius.Comment
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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?Originally posted by KRLWhat 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.
Last edited by theking; 01-23-2005, 09:43 PM.When you're running down my country hoss...you're walking on the fighting side of me!
FOR THE LYING LOWLIFE POSTING AS PATHFINDER...http://gfy.com/fucking-around-and-pr...athfinder.htmlComment
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I thought it was 10kComment
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Anyone know what the rules are for Canada?Comment
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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...Originally posted by robfantasy
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...I'm here for the violence!Comment
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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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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 numberOriginally posted by PleasurepaysComment
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its 10k globally
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I know in Canada it is...Originally posted by fl_prn_strComment
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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 $20k, you usually bring all the money in cash to the dealer...I don't use ICQ anymore.Comment
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That´s correct!Originally posted by thinkx
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in Canada, they fill and form and send it to the tax evasion office if they suspect anything in your deposit/withdrawalOriginally posted by Jaymus.
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what about western union?SIG TOO SMALL! Maximum 1200x600 button and no more than 30 text lines of ALL SIZES and COLORS. Unless your sig is for a GFY top banner sponsor, then you may use a 6240x4800 instead of a 1024x800.Comment
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note to self: do pay taxes
lol
jkComment
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10k is i think the limit for intercountry travel
as far as banks if you have a record of high volume transactions they usually dont even bat an eye
edit : just read thread and i think im rightComment
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Their is no hard and fast rule. Firstly it is large cash deposits they watch more than checks etc. What they are looking for is suspicious activity on accounts so they could file a report on as little as a few thousand dollars.$ CLICKMEMEDIA.COM $ CONVERTING ETHNIC TRAFFIC SINCE 1998 ~ $30+PPS
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