If cash received by the bank in one or more transactions by or on behalf of the same person exceeds $10,000, the cash received transactions are reported. If cash received does not exceed $10,000, do not report cash received transactions.
If cash paid out by the bank in one or more transactions by or on behalf of the same person exceeds $10,000, the cash paid out transactions are reported. If cash paid out does not exceed $10,000, do not report cash paid out transactions.
If reporting both cash received and cash paid out transactions by or on behalf of the same person, report both on one form.
Remember that currency exchanges are counted as both cash received and cash paid out.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8