Lately, I've seen a few references to the subject of structuring in this forum and wanted to comment.

As many here already know, if you withdraw more than $10,000 in cash in any one day and don't report it on a CTR (currency transaction report), you are guilty of structuring and may be subject to a maximum fine of $250,000 and five years in prison.

Here are some links:

www.fear.org/fedstat2.html

www.fear.org

www.irs.ustreas.gov/plain/bus_info/tax_pro/irm-part/section/36229f.html#ss115

www.irs.ustreas.gov/plain/forms_pubs/pubs/p154405.htm

www.ustreas.gov/fincen/sarptfin.html

www.bankinfo.com/training/bsapart1.html

The good news is that in all honesty, I do believe the laws are intended to curb illegal money laundering activities and I don't think that they would want to go after otherwise law abiding citizens (if I were a fed, it would make more sense to use the structuring charge to strengthen my case against a known felon who is structuring in conjunction with his/her illegal activities, rather than go looking for otherwise innocent citizens who did it, quite possibly out of ignorance). I've also noticed that in most of the cases I read about, they tend to go after people who are structuring DEPOSITS, not withdrawals. This makes sense, since someone who was selling drugs or something like that would want to avoid reporting the deposits of their illicit proceeds.

Another bright point is that I've recently heard that some people on Capitol Hill are working on reforming the civil asset forfeiture laws currently on the books, to help protect innocent citizens from the government's plundering. (If you happen to be a politically active type, perhaps you could write to your representative and put in your two cents worth on this issue).

In any event, as someone said previously in another thread: just don't structure and fill out the forms.

-- Clyde (clydeblalock@hotmail.com), July 01, 1999

Answers

No, the structuring laws are to get anyone who is so presumptuous to think "their" money is their own to move, use, or abuse as they see fit. There are many instances of non-drug people having money and assets seized under color of laundering, structuring, and asset forfeiture laws.

Wake up!

The bottom line rationale for all these laws is that you are a nigger (regardless of your race) on the government plantation. Your life, the fruits of your labor, are not YOURS, they are the government's. What you consider YOUR property is really theirs and you must report any movement or use (over constantly decreasing minimum amounts) to the real owners -- the government.

This is not the American republic, anymore. It is a fascist dictatorship, no less so because the iron fist may be encased in a velvet glove.

-- A (A@AisA.com), July 01, 1999.

"A", i thank sweet jesus your due diligence is on call. man the ramparts you crazy colonial.

oh yea, so there is a problem with velvet that i should be aware of?

-- corrine l (corrine@iwaynet.net), July 01, 1999.

As many here already know, if you withdraw more than $10,000 in cash in any one day and don't report it on a CTR (currency transaction report), you are guilty of structuring.....

Nope.

Structuring is withdrawing the money in several transactions. It has nothing to do with one day. Using your definition, I could withdraw $9K one day and $9K the next. Using the federal law I could end up in a prison.

There's a real fuzzy line in the structuring law, because the time and dollar limits are not defined.

-- De (delewis@inetone.net), July 01, 1999.

As many here already know, if you withdraw more than $10,000 in cash in any one day and don't report it on a CTR (currency transaction report), you are guilty of structuring and may be subject to a maximum fine of $250,000 and five years in prison.

I often see people here commenting that the individual withdrawing/receiving greater than $10,000 is responsible for completing a CTR. It has been my understanding (for approx 10 yrs) that the BUSINESS which is involved in the transaction shoulders the responsibility of ensuring the CTR is completed.

Either:

The individuals making claims they can be found guilty of "stucturing" for not completing a CTR at the bank are very confused regarding this law.

Or:

The law has changed in the last 6 months and I was not informed. Believe me, I am VERY familiar with CTRs.

-- CD (not@here.com), July 01, 1999.

tag off

-- CD (not@here.com), July 01, 1999.

Not only is the amount and timing fuzzy but the burden of proof is on you.

CP

-- CP (Spoonman@prodigy.net), July 01, 1999.

You guys didn't look up the links, did you? Of course, if I don't provide them, I get flamed.

From www.fear.org/fedstat2.html - scroll down to: 31 USC Section 5324 (a), Structuring transactions to avoid reporting requirements:

Sec. 5324. Structuring transactions to evade reporting requirement prohibited

(a) Domestic Coin and Currency Transactions. - No person shall for the purpose of evading the reporting requirements of section 5313(a) or 5325 or any regulation prescribed under any such section - (1) cause or attempt to cause a domestic financial institution to fail to file a report required under section 5313(a) or 5325 or any regulation prescribed under any such section;

Please note that it says CAUSE OR ATTEMPT TO CAUSE. It is the financial institution's (or company's) responsibility to file, but structuring is an attempt by the individual to prevent the entity from reporting.

From www.bankinfo.com/training/bsapart1.html: What is reportable The Bank Secrecy Act regulation provides that each financial institution must file a report of each deposit, withdrawal, exchange of currency or other payment or transfer,by, through, or to such financial institution which involves a transaction in currency of more than $10,000. Transactions in currency by exempt persons with banks are not subject to this requirement to the extent they are within the scope of the exemption. It is important to note that it is NOT just deposits and withdrawals that are covered. The reporting requirements also apply to an exchange of currency or other payment or transfer. One law enforcement official told about a local restaurant whose employees came in every day to exchange wads of small bills for stacks of $100s -- just the opposite of the type of transaction you would expect from an establishment of that type. If the amount involved in the exchange is more than $10,000, the transaction is reportable. By the same token, if a customer makes a loan payment using cash in an amount greater than $10,000, a CTR must be completed.

If multiple currency transactions are conducted by or on behalf of any person and result in either cash in or cash out totaling more than $10,000 ***during any one business day*** and the institution has knowledge that they are by or on behalf of any person, they must be treated as a single transaction -- aggregated together -- and must be reported. Deposits made at night or over a weekend or holiday shall be treated as if received on the next business day following the deposit.

-- Clyde (clydeblalock@hotmail.com), July 01, 1999.

Clyde-

I think I am referring to something different than what you are. ('Scuse me while I step out of this conversation.)

-- CD (not@here.com), July 02, 1999.