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In the US, it’s a “Currency Transaction Report”: https://www.fdic.gov/news/financial-institution-letters/2021/fil21012c.pdf https://www.fdic.gov/news/financial-
by Ancapistani 1y ago
In the US, it’s a “Currency Transaction Report”: https://www.fdic.gov/news/financial-institution-letters/2021/fil21012c.pdf https://www.fdic.gov/news/financial-institution-letters/2021...
The bank collects the information necessary to submit that form at the time of transaction.
You’re also required as an individual to file IRS Form 8300 if you accept >$10k in payment: https://www.irs.gov/businesses/small-businesses-self-employed/form-8300-and-reporting-cash-payments-of-over-10000 https://www.irs.gov/businesses/small-businesses-self-employe...