How Much Cash Can You Legally Deposit in the Bank?

Learn about cash deposit limits and bank reporting requirements for large deposits.

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There is no legal limit to how much cash you can deposit in the bank. However, banks are required to report deposits over $10,000 to federal authorities. For large deposits, it’s a good idea to inform your bank beforehand.

FAQs & Answers

  1. Is there a limit to how much cash I can deposit? No, there is no legal limit, but deposits over $10,000 must be reported to the IRS.
  2. What happens if I deposit more than $10,000? The bank is required to file a currency transaction report with federal authorities.
  3. Do I need to notify my bank before a large cash deposit? It's advisable to inform your bank about large deposits to facilitate the process.
  4. Can I deposit cash in an ATM? Yes, many ATMs allow cash deposits, but be aware of any limits set by the bank.

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