I want to transfer $15,000 from my savings account and put it in a CD at the same bank. Is the bank going to report the transaction to the IRS because it is more than $10,000? Will I have any issue with any other government agency?
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When banks are required to report on an individual transaction, it does not mean that the government is suddenly going to take an interest in someone. A bank has to file a Currency Transaction Report on any transaction or transactions in currency (read: cash) that exceed $10,000 made by or on behalf of the same person on any one business day. Transactions not made in cash do not require the filing of a Currency Transaction Report.
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When banks are required to report on an individual transaction, it does not mean that the government is suddenly going to take an interest in someone. A bank has to file a 