And if you make several deposits less then $10K each over a period of time to avoid the reporting, it is called "structuring", which can be a crime.
Here is a Washington Post article on structuring laws and the $10K reporting.
<a href="
https://www.washingtonpost.com/news/the-watch/wp/2014/03/24/the-federal-structuring-laws-are-smurfin..." rel="nofollow" target="_blank">
https://www.washingtonpost.com/news/the-watch/wp/2014/03/24/the-federal-structuring-laws-are-smurfin...>
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
