What is a Currency Transaction Report (CTR)?... | Filo

Rafael y Asociados | Compensación Al Trabajador California on Instagram: "Never deposit over $10,000 in Cash!! 💵🙅‍♂️ Banks automatically report large currency transactions to government. Many search "cash deposit reporting requirements" and "what happens when you deposit large amounts." Financial institutions legally required to file Currency Transaction Reports. Attempting to avoid reporting through multiple smaller deposits creates serious legal issue. "Structuring" transactions triggers sus

Ace on Instagram: "Most people don't know this, but by law, casinos have to check ID and file paperwork on anyone who cashes out more than $10,000 in a single day. This is called a Currency Transaction Report (CTR) And once it's filed, your SSN gets logged, and eventually, the IRS gets notified. So to avoid this, I broke up my winnings into smaller amounts and spread them out. Do that consistently, and it adds up fast over time. Casinos don’t care if you win; they care when you beat their system