I emptied a savings account about a year ago and received the funds as a cashier's check (approximately $60,000). Shortly after, I received the check I became very ill and did not use it. If I cash it or redeposit it, will these transactions get reported to the IRS?
Banks are required to report all cash transactions over $10,000. On a separate issue, deposit the check soon. Although there's no "expiration date" on cashier's checks, bank are required to turn over funds covering uncashed cashier's checks over three years old (longer or shorter periods may apply based on individual state laws). Besides, that money should be earning interest for you, not sitting around in the form of a check.
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Banks are required to report all cash transactions over $10,000. On a separate issue, deposit the check soon. Although there's no "expiration date" on cashier's checks, bank are required to turn over funds covering uncashed cashier's checks over three years old (longer or shorter periods may apply based on individual state laws). Besides, that money should be earning interest for you, not sitting around in the form of a check.
