Core Points - The legality of depositing a large cash inheritance, such as $150,000, into a bank account is questioned, particularly regarding tax implications and documentation requirements [1][3][4] Group 1: Legal and Regulatory Aspects - Depositing more than $10,000 will likely trigger a mandatory currency-transaction report to the Internal Revenue Service and the Financial Crimes Enforcement Network under the Bank Secrecy Act of 1970, aimed at detecting potential money laundering [3][4] - Deliberately breaking up deposits into smaller amounts to avoid triggering alerts is illegal and known as "structuring," which can be detected during audits [5] - Financial institutions may request probate documents, a letter from the executor, or a death certificate to confirm the cash's legal source, especially if it is not directly inherited [6] Group 2: Tax Considerations - Only a few states impose an inheritance tax, with the amount depending on the heir's relationship to the deceased, while there is no federal inheritance tax; however, a federal estate tax applies with an exemption threshold adjusted annually for inflation [7]