I have been helping out my friend financially (from loaning him rent money to picking up the bill at restaurants) for the past eight years. He recently paid me back $13,200 in cash (in an attempt to be funny). I deposited the funds in my account and the bank had to fill out several forms. After discussing it with the bank, I am now concerned. Is there any paperwork I should be filling out? Am I going to get audited for this?
First, your friend seems to be a good one, as borrowing friends often go. At least you were paid something back, whether it is all that was loaned or not.
Second, your bank obtained necessary information for them to obey one of the laws they must follow. They have to get information on cash transactions exceeding $10,000. No, there isn't anything you need to do regarding this with your bank. What had to be done, was done, and it won't bring on any audits by the IRS either. Now, if your friend only owed you $6,100 and the rest was interest, that may be reportable income on your part, but that is a matter between you and the IRS, but they would still be a good friend.
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First, your friend seems to be a good one, as borrowing friends often go. At least you were paid something back, whether it is all that was loaned or not.