Transfer of Large Amounts of Funds?

[Mr70]

I read that any deposits made into a Bank account of 5K or more are quitely reported to the Federal Government with in seconds.This just became affective a few days ago.
They are looking for possible terrosit activity they say is why.Don't even think about buying 100 cell phones,(Triggers),all at once either..

[lzdick]

The $5K limit is obviously new and may change my plans.

In the past, I have written checks (up to $9,900) to friends to deposit in their accounts and get me the cash. This has always worked for me with no repercussions. Deposits can be done in reverse, giving a friend the cash and having them write you a check. Make sure you can trust this "friend". Most everything I do is cash. Did one wire transfer due to time constraints and deal went off without a hitch...and I haven't heard from the Feds (yet).
Rich

[budnate]

Good old Folgers can buried in the back yard...that's what pappy said was best.. no stinken bank to hassle you was his motto..may be some wisdom to it

[Zedder]

I think times are changing and large deposits/withdrawls are attracting a lot of attention. Tax evasion is a serious charge (at least it is up here in Canada) and getting caught at the border can get your car confiscated and not returned! I wire transfer funds and pay full tax when I register the car, it's just not worth it for me to take a chance for a few thousand dollars. And yes, I also claimed the profits that I made last year on my tax return - again, it's not worth taking the chance. If you ever get audited, and it's just a matter of time if you make a decent living, how are you going to explain that 6 figure deposit make to your bank account??? Car profits are taxed at capital gains rates minus expenses etc. so it really isn't that bad if you keep good records. Cash used to be the way to go, but we weren't talking about 6 figure cars back then

[kwhizz]

I would just send my Wifes purse UPS Next Day Air....Tell the seller to take out what we agreed upon and send back the rest ......... Sometimes she doesn't know it was gone..........LOL

Ken

[Xplantdad]

[ QUOTE ]
I would just send my Wifes purse UPS Next Day Air....Tell the seller to take out what we agreed upon and send back the rest ......... Sometimes she doesn't know it was gone..........LOL

Ken

[/ QUOTE ]




So that explains that black purse that was sent to me..I didn't know what you were implying

[kwhizz]

[ QUOTE ]
[ QUOTE ]
I would just send my Wifes purse UPS Next Day Air....Tell the seller to take out what we agreed upon and send back the rest ......... Sometimes she doesn't know it was gone..........LOL

Ken

[/ QUOTE ]




So that explains that black purse that was sent to me..I didn't know what you were implying

[/ QUOTE ]




Ken

[ORIGLS6]

Does she have any sisters?

Not that I'm looking or anything, but .................................................. .................................................. .................................................. ......................................... Does she?

[Xplantdad]

Hey...I'd bring it back to reunion...but they might look at me *funny* going through the security area

See you guys in 13 days...not that I'm counting or anything.

[SuperNovaSS]

The bank told me the amount they report fluxuates on a weekly basis. Just because you don't have to fill out a form does not mean they are not reporting your account fluxuations.


Jason