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Old 07-12-2010, 12:35 PM
 
Location: Las Vegas
14,229 posts, read 29,948,042 times
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I would forget about all the forms and avoid the suspicion and questions. I would just make a series of small deposits until I had it all in the bank. Just start now. I would do 2K or so every couple weeks.

This is an odd situation and I would want to avoid anything that would drag mom and dad into possible trouble. Especially with the tax man.
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Old 07-12-2010, 12:52 PM
 
73 posts, read 159,574 times
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But what we have learned from this thread is that "a series of small deposits" is what triggers suspicion.
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Old 07-12-2010, 01:56 PM
 
Location: Las Vegas
14,229 posts, read 29,948,042 times
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Quote:
Originally Posted by popham View Post
But what we have learned from this thread is that "a series of small deposits" is what triggers suspicion.
No paperwork or special handling under 3K.
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Old 07-12-2010, 07:26 PM
 
20,793 posts, read 61,147,762 times
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Quote:
Originally Posted by yellowsnow View Post
I would forget about all the forms and avoid the suspicion and questions. I would just make a series of small deposits until I had it all in the bank. Just start now. I would do 2K or so every couple weeks.

This is an odd situation and I would want to avoid anything that would drag mom and dad into possible trouble. Especially with the tax man.
This would probably trigger an investigation before one larger transaction would.
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Old 07-12-2010, 09:54 PM
 
15,633 posts, read 26,159,772 times
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Quote:
Originally Posted by yellowsnow View Post
No paperwork or special handling under 3K.
Yes, but someone depositing 50 transactions of $2000 definitely would set off the alarm bells. Transactions are ALL computer based and the computers all have code written to catch these sorts of things.
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Old 07-15-2010, 04:12 AM
 
2,036 posts, read 4,233,982 times
Reputation: 3201
Know your customer - Wikipedia, the free encyclopedia

Read it and weep.
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Old 07-16-2010, 08:57 PM
 
Location: Long Island
9,923 posts, read 23,064,923 times
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psychofan, I'd like to suggest that your parents get in touch with a local professional to figure out/plan on how to incorporate their "stash" into their regular account(s).
Your end has few if any complications - theirs does. This board - IMHO - is not the place to look for advice on how to protect them/their interest.
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