Anonymous #7 said:
I'd do it $2500 at a time, much more than that is unusual.
It used to be that under $10,000 would not trigger a SAR but the limit has been lowered, the government got tired of people withdrawing $9999 at a time.
That is sort of correct. But not really
- the SAR is your enemy. It is a report of so called "suspicious" money activity. The federal limit for generating an investigatory action is $5000, but this mostly pertains to transactions where you refuse to give vital personal information and/or a social security number. Your bank has this information already, but who you conduct business with after you withdrawal may not.
Now, even tho the federal limit is $5K be warned, most companies are wary of not complying and set a limit much lower. Ive seen financial institutions that start there own internal paperwork at thresholds as low as $2500 just incase the fuck up and let you go over 5k or to close to 10k throughout a string of cash transactions.
Cash can be defined as basically any form of money such as a check, actual cash, or other.
Since it is legitimate cash, as you say, the paper trail will not get you in trouble with the government. They know, or can prove the origin of the cash as being ligit thereby satisfying any legal issue of you retaining that amount. 10k is not much cash for anyone to worry about really, and if it is over 10 K the lenders have already filed a cash transaction report with your name on it before delivering the funds.
Companies are forbidden to talk to you about what ive just said, and will never inform you that they generated a suspicious activity form or a cash trans. report in many cases. Dont bring these things up while doing business with anyone. If you blatantly try to avoid a CTR the company will file a suspicious activity report.
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Thats crazy dude, seriously paranoid.
