Quote Originally Posted by Ronald Blue View Post
Cash? Any amount exceeding 10,000 has to be reported by the bank it's withdrawn from or deposited in. Even if you don't deposit all of it on your end a report will have been filed.
This was the point of breaking up deposits. If the buyer pulls a massive sum of cash out on their end (would never happen in a cash transaction) thats on them. There is no record, other than their word, of where that cash went. If the receiver doesnt initiate a bank transaction that triggers reporting, there is no issue.

In the instance I posted the customer had a family member (parent) that had been giving them cash over a long period of time (for all assumed reasons) and there was no bank involved. They simpy kept the cash on-hand.

The fruity thing about it is that we now find it suspicious that someone would pay with large sum's of cash (because we've been programmed to be the narc's of the IRS). As mentioned from many in this thread, the conversation and interaction that would precede such a transaction in the OP's situation would be very telling. Someone shows up with cash your major concern would be that they are not trying to pay you with counterfeit money, or they have not been passed along counterfeit money.

A cash transaction for most would be heaven unless your in business and trying to get out from under the capital expenditure of the machine being moved off the premises.