And, if you try to avoid the reporting by taking multiple smaller withdrawals, they call it “structuring”, which puts you at risk for nonjudicial civil asset forfeiture.
In the last couple of years we have done some major ‘fixing’ of our house and boat. We always pay cash because they will give you an additional discount for doing so. The companies themselves have set up ‘payments’ til the jobs were finished of smaller amounts.
Guess we have had a lot of SARs filed on us.