cross-posted from: https://lemmy.world/post/26375733
You’d have to fill out the paperwork coming and going. If You Deposit a Lot of Cash, Does Your Bank Report It to the Government?
Depositing $10,000 or more in cash means your bank or credit union will report it to the federal government. The $10,000 threshold was created as part of the Bank Secrecy Act, passed by Congress in 1970, and adjusted with the Patriot Act in 2002.
The law is an effort to curb money laundering and other illegal activities. The threshold also includes withdrawals of more than $10,000.