Can someone gift me a large amount of money to spend on my mother without my mother losing public benefits?

[justalayman]

You quoted from an article on "thenest" by a creative writer with a degree in communications that worked in lending. That's not exactly something I'd use to back up a claim.

I'll accept his link to the ffiec. I just need him to quote the section that pertains to REPORTING $3,000+ wires.

Well I’ll let you look for that since it is truly irrelevent to this thread and regardless of,your claim you can’t prove a negative, in essence you can. You can prove what must be reported and if that doesn’t include wire transfers over $3,000, then I’m wrong.

It wouldn’t be the first time. Won’t be the last. I can handle it.

 

[quincy]

You quoted from an article on "thenest" by a creative writer with a degree in communications that worked in lending. That's not exactly something I'd use to back up a claim.

I'll accept his link to the ffiec. I just need him to quote the section that pertains to REPORTING $3,000+ wires.

You just requested "a source." I gave you one.

Sorry you did not find it authoritative enough. Try this, 31 CFR 1010.410. See (f) and take from it what you will.

https://www.law.cornell.edu//cfr/text/31/1010.410

 

[Chyvan]

You mean this:

(f) Any transmittor's financial institution or intermediary financial institution located within the United States shall include in any transmittal order for a transmittal of funds in the amount of $3,000 or more, information as required in this paragraph (f):
(1) A transmittor's financial institution shall include in a transmittal order, at the time it is sent to a receiving financial institution, the following information:
(i) The name and, if the payment is ordered from an account, the account number of the transmittor;
(ii) The address of the transmittor, except for a transmittal order through Fedwire until such time as the bank that sends the order to the Federal Reserve Bank completes its conversion to the expanded Fedwire format;
(iii) The amount of the transmittal order;
(iv) The execution date of the transmittal order;
(v) The identity of the recipient's financial institution;
(vi) As many of the following items as are received with the transmittal order: 2

That's all under "§ 1010.410 Records to be made and retained by financial institutions" that says nothing about reporting anything to anyone.

 

[quincy]

You mean this:

(f) Any transmittor's financial institution or intermediary financial institution located within the United States shall include in any transmittal order for a transmittal of funds in the amount of $3,000 or more, information as required in this paragraph (f):
(1) A transmittor's financial institution shall include in a transmittal order, at the time it is sent to a receiving financial institution, the following information:
(i) The name and, if the payment is ordered from an account, the account number of the transmittor;
(ii) The address of the transmittor, except for a transmittal order through Fedwire until such time as the bank that sends the order to the Federal Reserve Bank completes its conversion to the expanded Fedwire format;
(iii) The amount of the transmittal order;
(iv) The execution date of the transmittal order;
(v) The identity of the recipient's financial institution;
(vi) As many of the following items as are received with the transmittal order: 2

That's all under "§ 1010.410 Records to be made and retained by financial institutions" that says nothing about reporting anything to anyone.

How do you define "transmittal order?" What is being transmitted?

Are you seeing transmitting as "collecting and retaining?"

 

[Chyvan]

A transmittal order is what creates the wire transfer. You have to do a transmittal order if it was for a $1 or the money isn't going to move. All this requires is that if the transmittal is for $3,000 or more that all those elements must be present.

 

[quincy]

A transmittal order is what creates the wire transfer. You have to do a transmittal order if it was for a $1 or the money isn't going to move. All this requires is that if the transmittal is for $3,000 or more that all those elements must be present.

And your contention is that no report needs to be made for wire transfers of $3000+?

 

[Chyvan]

Correct - only that records need to be maintained with the required information.

 

[quincy]

Correct - only that records need to be maintained with the required information.

So ... do you want to tell Carl Carabelli you disagree with him?

 

[Chyvan]

I'm sure he doesn't much care. I'm pretty sure no one that reads thenest much cares about the precise way things are done considering this is what it caters to:

• Design
• Cook
• Love
• Travel
• Party
• Money
• Health
• Pets
• Shop

 

[quincy]

It appears to be a good place for freelance writers to hone their skills.