Cashing a certified bank check

69L48Z27

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I'm asking that if I receive a big certified bank check to my bank and not deposit it. Just cash it. Assuming I have enough funds in my account to cover it..
Can it be traced by another party like a lawyer?
As soon as you endorse it and ‘cash it’, doesn’t your name on the front and back trace it to you? Issuing bank has a record of who the check was generated for.
 

BanginGears

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As soon as you endorse it and ‘cash it’, doesn’t your name on the front and back trace it to you? Issuing bank has a record of who the check was generated for.

I'm asking if I cash it without depositing it, can someone see the transaction from my account?
 

1967coronet

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I'm asking that if I receive a big certified bank check to my bank and not deposit it. Just cash it. Assuming I have enough funds in my account to cover it..
Can it be traced by another party like a lawyer?
Sorry but this part has me scratching my head.
Sometimes I'm a little slow.
If you are receiving the check what would your balance have to do with this ?
Why would you have to ( cover ) the check ?
Jmho, just be straight up about what ever is going on.
To many moving parts .
 

1STMP

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Does anyone know if you cash a certified bank check and not deposit it in your checking or personal account, can anyone see that it was cashed say 2 months from when it was cashed?
Usually large sums that are deposited into
your account are differed for dispersal for two
to four days as the bank must verify the
validity of the check. The certification on
a check is just to make sure it gets delivered
to the party intended. It does not guarantee
available funds. Just went through this with
an insurance check for a roof replacement.
Honesty is the best policy.
There's no hiding this transaction from the
IRS, however, hiding it from your wife is
possible, but may prove difficult. Especially
if you have another B body project show up
in your driveway.
 
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BanginGears

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Usually large sums that are deposited into
your account are differed for dispersal for two
to four days as the bank must verify the
validity of the check. The certification on
a check is just to make sure it gets delivered
to the party intended. It does not guarantee
available funds. Just went through this with
an insurance check for a roof replacement.
Honesty is the best policy.
There's no hiding this transaction from the
IRS, however, hiding it from your wife is
possible, but may prove difficult. Especially
if you have another B body project show up
in your driveway.


Not trying to hide it from the IRS at all.
I received a large check and had it made out to my mother. She is elderly and only living on social security.
She cashed it and never deposited it in her account.
I'm asking if anyone would looks at her account can see if there was a transaction that occurred.
 

Roger63

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Not trying to hide it from the IRS at all.
I received a large check and had it made out to my mother. She is elderly and only living on social security.
She cashed it and never deposited it in her account.
I'm asking if anyone would looks at her account can see if there was a transaction that occurred.
If you're trying to protect her social security I believe it would have to be reported to the irs on a 1099. If the amount was 10k or up then most likely the bank that cashed the check did so they are required by law.
 

moparedtn

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As others have stated, the amount is such that the IRS requires reporting of the transaction,
both on the issuance and the cashing of the check, by the bank(s) affected.
There may not be record of a deposit per se - but there is record of the bank-required ID and such
when cashing it nonetheless, which the bank is also required to retain in their permanent records.
What I don't know is whether that information is automatically forwarded to the IRS as part of
the reporting process - or if it is only provided to them upon request later.
 

BanginGears

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This has nothing to do with the IRS. Hiding money from them. I'm asking how can this transaction be seen on an account, if it was just cashed and not deposited?
 

Roger63

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This has nothing to do with the IRS. Hiding money from them. I'm asking how can this transaction be seen on an account, if it was just cashed and not deposited?
It can't by anyone outside of the 2 banks involved. They will have record of the transaction.
 

toolmanmike

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This has nothing to do with the IRS. Hiding money from them. I'm asking how can this transaction be seen on an account, if it was just cashed and not deposited?
The banks are required to report to the IRS any check cashed or deposited over $10,000.
 

YY1

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Isn't the whole point of "checks".....tracking or at least tracing?

I hope the OP considered that a large sum of cash income in their mother's name might adversely affect her SS benefits.
 

toolmanmike

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Isn't the whole point of "checks".....tracking or at least tracing?

I hope the OP considered that a large sum of cash income in their mother's name might adversely affect her SS benefits.
Or even worse yet, being turned down for Medicaid because she's dumping money.
 

haywire 440

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Second, to make counterfeit money look more correct soak it in brewed tea and run it through the clothes dryer.

According to a friend add a hint of cocaine, to your recipe, it’s been confirmed all U.S. dollars contain trace amounts.



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Eye think this inquiry would warrant a professional opinion of a trusted lawyer or CPA. It’s worth the money.
 
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