Anonymous wrote:I’ve been tasked with cleaning out my mother‘s things and found just over $6000 in cash. I’d like to deposit it into my bank account. Is there anything I need to do to treat this differently than a smaller deposit?

But why?
Also, look up "structuring" related to bank deposits. Any amount that a teller finds "suspicious" will garner a report to the IRS. There is no 10K min limit like some older people still think. That went away over 20 years ago. It's any amount now.

Don't deposit cash in an ATM.

Just keep it and spend $20-$50 here or there with it (like at your local dry cleaners or other small business)... or "exchange" it with a friend who can write you a check for the money. Then deposit the friend's check.

You can buy money orders (up to a limit of $1k each, I think), then deposit them by mail, if you don't mind the fees.

Anonymous wrote:I do this all of the time when I'm going to atlantic city. NBD.

Me too.But for my own reasons. That are not illegal.

Anonymous wrote:Thank you! I will head down to the ATM to deposit it. I do not want to send cash across the country.

Never deposit cash in ATM. If the bank worker takes it, you have no proof of your cash deposit.

My bank has no branches. USAA

Anonymous wrote:Thank you! I will head down to the ATM to deposit it. I do not want to send cash across the country.

Go inside the branch. Don’t do it at an atm.

Thank you! I will head down to the ATM to deposit it. I do not want to send cash across the country.

I do this all of the time when I'm going to atlantic city. NBD.

Anonymous wrote:If you don’t have $6000 in the account you’re depositing it into, they may freeze it for 3-5 days.

No. If you make a deposit in cash in person (to a bank teller) the bank should make it available no later than the next business day.

If you don’t have $6000 in the account you’re depositing it into, they may freeze it for 3-5 days.

Why? Then it's recorded and part of the estate and estate taxes. Just divide it as cash.

Just take it to the bank and deposit it. They don't really start asking questions until it's over $10k (and there are reporting requirements once it hits $10k).

OP again. I will of course be dividing this money up between me and my siblings. I just would prefer it to be electronic since we don’t live in the same place and it is harder to spend cash these days.

I’ve been tasked with cleaning out my mother‘s things and found just over $6000 in cash. I’d like to deposit it into my bank account. Is there anything I need to do to treat this differently than a smaller deposit?