<prompt> Human: 1, not asking for legal advice. 2. I am only talking about actual funds stored in the bank, no investments or anything. It seems that if you simply wanted to store the funds and not gain interest, there should be an account for that.CLARIFICATION:My understanding is you have to pay taxes on interest gained in bank accounts.Assistant: You should be getting paid interest in your savings. Why would you want to avoid that? Human: The main reason why people want accounts like this is to conduct tax evasion. They want to evade taxes not on the piddly interest paid by the bank, but on the amount of money deposited into the account. If a 1099-INT doesnt get filed, it is a lot harder for the IRS to know about the account. An arrangement like that emboldens operators of small businesses to leave large amounts of gross receipts off their tax return.Im not saying that tax evasion is the mission of the OP. The OP could just be a person that doesnt realize that you still end up money ahead even after paying taxes on interest.Assistant: interesting. So even after paying taxes you could come out without having lost any of the original deposit?  <response>: If you have 10,000 in an account and it earns 100 in interest, you would have 10,100 in the account before you pay taxes. You would owe tax on some fraction of the 100 in interest that you earn. If you are in the 15 tax bracket, you would pay about 15 in tax. This would leave you with 10,085 in your account. 