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As long as an individuals payments dont exceed $10,000/yr, there is no reporting?
by robertAngst 8y ago
As long as an individuals payments dont exceed $10,000/yr, there is no reporting?
- tomcam 8y agoWhy on earth was this downvoted?
- ajcodez 8y agoI don’t know. In my case for screening investors there is mandatory reporting.
- rchaud 8y agoThere can be. Fraudsters can try to get around the $10k reporting threshold by sending smaller amounts across multiple transactions. This is known as "structuring", and if detected, requires the filing of a FINCEN Suspicious Activity Report. You will never be told if any of your transactions are being reviewed. This is done so as to not tip off potential fraudsters.