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Ellen
Ellen, Lawyer
Category: Family Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
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l took most of my money out of the bank years ago.Now I want

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l took most of my money out of the bank years ago.Now I want to put it back in,so I can I can invest some of it.Its not much,about 40,000 dollars.But I heard any thing over 10,000
the IRS is notified.Any way to get around that?And is that a week,month year or what?
Hello,

Thank you for your question. If my answer is not clear to you, I encourage you to ask me for clarification by using the reply button.

Deposits of $10,000 or more do trigger a mandatory IRS reporting. Deposits under $10,000 are not subject to mandatory reporting.Therefore you can make 5 deposits within any period of time other than the same day without triggering a mandatory reporting.
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