Tax liability on keeping cash in checking account

[yashK1]

Hello,

I have recently started working. I dont invest in anything. I have one chase account in which I get my paycheck. If any of checking/saving account become more than 10K or may be 20K, do I have to fill any forms with IRS. All my deposits are from my employer. I dont plan to invest this year. So money will be accumulating in my account. Do i have to worry about anything from tax/IRS point of view?

Thanks in Advance

[VolvoGirl · Accepted solution]

No reporting required for account balances.  Or are you a foreigner?  Many people keep a lot more in their checking or savings accounts.  That's what bank accounts are for.  You don't need to keep cash under your mattress.

[yashK1]

Thanks @VolvoGirl for your reply. Yes. I am not a US citizen. So i wanted to make sure there are no such rules here in USA