The web site states, "Banks have to report cash transactions that exceed $10,000." I thought I read that the amount was changed in 2007 to deposits exceeding $6,000.00. Which is correct?
Untitled
There has been no change in the requirement. Banks and other businesses in the U.S. are required to report to the Internal Revenue Service transactions in currency exceeding $10,000.00.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
There has been no change in the requirement. Banks and other businesses in the U.S. are required to report to the Internal Revenue Service transactions in currency exceeding $10,000.00.
