Re: Depositing Large Sums of Cash
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I certainly don't recommend shady dealings/etc, but if you just want to avoid the hassle if anyone should ever question the deposit - why not deposit it in pieces. $1000 here - $3000 there - shouldn't take long...
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This is known as structuring. Banks will commonly file a Suspicious Activity Report (SAR) if you do that.
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This is correct and its very important -- you can get in a lot more trouble if you structure transactions around the rule and get caught. The 10K rule is now used for money laundering compliance purposes as well as tax purposes -- banks and other financial institutions (including casinos) are looking for this.
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