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If you're doing it because of a hard cap on the withdrawal amount it's not structuring. You have to be doing it with the specific intent to avoid required repor
by Deprecate9151 3y ago
If you're doing it because of a hard cap on the withdrawal amount it's not structuring. You have to be doing it with the specific intent to avoid required reporting.
- renewiltord 3y agoRight. I agree. That's how I'm saying it's similar to the OP: it's the intent that makes it one or the other.
- buildbuildbuild 3y agoYou don't have to be doing anything wrong. You only need to appear suspicious to a compliance algorithm and you're suddenly unbanked with no explanation or recourse. Today's banks are over-compliant and won't care to dig into your intent. See: https://www.nytimes.com/2023/11/05/business/banks-accounts-close-suddenly.html https://www.nytimes.com/2023/11/05/business/banks-accounts-c...