The International Bank Account Number is a unique identifier helping banks process payments from person to person automatically. The IBAN contains all necessary information for the owner if a bank account such as the account number, bank and branch information and country code.
Quick Answer. Whether its one cash deposit of $10,000 or multiple transactions that add up to $10,000, cash deposits must be reported to the Internal Revenue Service (IRS) once they hit that amount if conducting trade or business. If cash deposits hit this amount, it must be reported to the IRS through Form 8300.
The bank needs to report when you deposit 10K in cash or a series of deposits that add up to 10K. They don't charge for having too much in the bank. The IRS may investigate if they suspect money laundering. shipwreck Â· 9 years ago.