Re: Depositing Large Sums of Cash
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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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If you do this, you will be inviting scrutiny. With the new Homeland Security rules, banks track deposits of this time to limit the funding abilities of terrorist groups or so the theory goes. If you spend a couple of weeks making $1-3k deposits and then take a few cash withdraws within a month or so, you are almost guaranteed to have your account frozen and an investigative team with FBI and IRS agents at your door. Deposit it all at once, fill out the proper forms and accept the IRS Audit that will be coming. Next time, set up a line of credit at the Casino and don’t carry so much cash around.
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