If a friend of mine that lives in another country wires me $11,000, will my bank be required to report the deposit to the IRS? If he split the amount in half and made two deposits, does that help? He is potentially loaning me money, although I wouldn't have to pay it back for at least a year.
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Banks are required to report currency transactions exceeding $10,000. Wire transfers are not transactions involving currency. Withdrawing the wired funds in cash would be a transaction in currency.
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Banks are required to report currency transactions exceeding $10,000. Wire 