Quote:
Originally Posted by Barefootsies
Required reporting
$10,000 may be FBI
$5,000.00 is IRS
Lower dollar amount to homeland security on single money transactions/wires.
My old college roommate is H.L.S. and told me himself. Which is how I even know this bullshit. I simply can't remember the under $5k amount, which was my guess when he asked me about it. But it was a lower dollar amount and it let to a long discussion.
The point being, the U.S. bank/financial institution has every right to ask you about your accounts, and money, especially when it is raising a flag or out of what they consider 'the norm'.
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The numbers are actually the following:
$9,999 transaction or more (wire, check, deposit, withdrawl)or above gets reported to DHS and IRS.
$2,999 cash transaction or more gets reported to DHS and IRS.
Also any wires to/from a country on the OFAC list gets immediately reported as well and the bank will most likely ask you questions about it, or freeze the funds, etc.