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Content: Money matters. 2
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level 2
5 years ago
I heard they lowered this threshold to $5K a couple of years ago
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level 1
5 years ago
if your money is acquired through legal means it doesn't matter how much you deposit at once, you just need to fill out a declaration of where it came from. Purposely spreading out the amount of deposits to avoid this declaration is in itself illegal. 12
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level 1
5 years ago
Structuring deposits to avoid "suspicion" or reporting requirements is, in itself, illegal. Realistically, unless you're depositing hundreds of thousands of dollars in cash, no one will blink an eye. 5
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level 2
5 years ago
Illegal? You mean I can go to jail for structuring my deposits? -1
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level 1
5 years ago
It all becomes suspicious once you file your taxes. You need to launder that money and make it look legitimate. 7
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level 1
5 years ago
Theres a name for that that basically means you're committing fraud or involved in money laundering.