3 ms·

I don’t think banks report data to local authorities. They report anything over a fixed amount( I think $5,000 or more) to the irs and/or the fed.

• pvg 8y ago
  Banks report to state tax authorities. If the California Franchise Tax Board, for instance, thinks you owe them money, they'll find your bank account.
  • victor106 8y ago
    They don’t report automatically. They only report if they get a request for information.