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I recently heard someone mentioning that banks are required to report to the IRS any "big deposits" into an account. I believe the "big deposit" amount was $10K.

Yes, for $10,000 or more in cash, and that includes amounts less than $10,000 that add up to $10,000 or more, have to be reported to the IRS by the bank.

However, I heard that a number of financial institutions also report non-cash deposits of $10,000 or more.

The intent, though, is to track large transactions made without tracable instruments, supposedly to get info on drug traffic.

If the IRS keeps a record of every non-cash transaction of $10,000 or more, I am sure they got records from my credit union and from my taxable investments fund family. On the other hand, if they are tracking just cash transactions, they have nothing on me for a cash transaction over $200. 8)
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