Well, thanks for spoiling my laugh! LOL But it is no laughing matter.

No, it will not be shredded. It will be kept on the servers until the government needs (or wants) to collect some dirt on you and then it will be resurrected. Also, when you buy a new car, they track your soc sec number.

I tried (unsuccessfully) for a while to get a NACA refi for my house. I had to write and sign individual explanations for each deposit in my bank account that was over $600 (that was not a payroll deposit). Yes, that is six-hundred dollars; yes, that is separate explanations for each deposit over $600. The explanation offered me was that this would prevent my accepting money from illegal sources.

Jan
(That attempt represented several days of my life I will not get back.)

I believe that any cash transaction of over $3000 (?) has to be reported to the IRS. They have some sort of a form that requires ID. I have gotten around it in the past by going to several places that offer money orders and getting as much as I could from each without filling out the form. A little work and some small fees, but my privacy remained intact.

Welcome to the Brave New World.

We have all become slaves to the State. Accept, fight, or shrug.

Lucky, you. I paid in full for a new car last christmas and must have spent an extra two hours to complete the process because the dealership was trying to avoid the transaction. First, a bunch of them went into a little office for twenty minutes with their heads together, then they put me into a room with their finance guy who tried his damnedest to talk me into financing the car. It was an uncomfortable hour in an over-heated small office. I was almost walked out on the whole deal. Just take my money and give me my car!

The opposite is also true; Withdraw more than $1,000 and they send a report off to the IRS. So we found another bank the doesn't play those games with our money.

I also thought the threshold was $10k. But, whatever it is, it could be considered as income by the goobermint. And, you could be taxed on it as income.

okay so you gave them your ss number. they probably had it anyway.

I had a very interesting conversation with a banker not to long ago and was informed that a banker at a bank can not tell you a customer at the bank that they do not handle mortgages but who at the bank does unless they the banker has been registered through the bank with some certification that the bank pays $1000.00 to some government agency I think. I might be off by a little here but not by much. the point being that bankers are now and forever more shaking in their boots because of the many regulations that they have to operate under.
I wonder what they government employees are going to do when all of these regulations are used against them as well. as I have said before it is not the rule makers but those tasked with applying them who are the ones you have to be careful of.

They don't want us using wampum, tobacco, ammo, or any other exchange commodity they may fail to tax.

Thanks for the laugh!

10K is the amount that needs to be declared when crossing international borders, some countries its per person the US its per traveling group. I learned about this when applying for my last home loan they asked me explain moving money from my account to my wife's account which I also have my name on? I think 10k is to low and really 3k? That's it barely a weekend bender in Las Vegas. Its big brother for sure 1984

I paid for my last new car with a check. This dealer was like a 70's dealer where cash spoke.

Store your gold outside USA.

Don’t lose sleep over it. It’s just standard reporting and the IRS is as dysfunctional and overwhelmed as the VA. Your paperwork will probably be shredded by some IRS employee so they can keep his/her bonus.

They can’t accept three thousand without sending paperwork to the IRS.

Than-you, for fact-checking me.

Grrrrrrrrr! Our government makes my blood boil. :(

My wife works as a teller and the restrictions on cash transactions would surprise you. Even car dealers can not accept cash over $10,000 without the appropriate paperwork. I guess they can search our financial life without a warrant!?