Interesting

Tuesday, Apr 21, 2009

If you spend more than $10,000, the person receiving it is required by law to file a report to the government:

(a) Coin and Currency Receipts of More Than $10,000.—Any person— (1) who is engaged in a trade or business; and (2) who, in the course of such trade or business, receives more than $10,000 in coins or currency in 1 transaction (or 2 or more related transactions), shall file a report described in subsection (b) with respect to such transaction (or related transactions) with the Financial Crimes Enforcement Network at such time and in such manner as the Secretary may, by regulation, prescribe.

US CODE: Title 31,5331. Reports relating to coins and currency received in nonfinancial trade or business, http://www.law.cornell.edu/uscode/uscode31/uscsec31_00005331----000-.html.