Go one penny over this amount and a report must be filed (currency transaction report). If you deposit checks or have the money wired in or direct deposited there is no form. It is for CASH only, going in or out of the bank.
The short answer is that yes, you can roll the funds from a traditional IRA into a 401(k) as long as the 401(k) plan allows it.The same goes for doing a rollover into a 403(b). The slightly longer answer is that you can only roll over tax deductible contributions and earnings.he short answer is that yes, you can roll the funds from a traditional IRA into a 401(k) as long as the 401(k) plan allows it. The same goes for doing a rollover into a 403(b).
But if you have a 401(k) plan that allows you to borrow money from your balance, you can be your own helpful relative! In most cases, as long as you pay back your 401(k) loan according to the rules, the money you borrow is not reportable as taxable income.ut if you have a 401(k) plan that allows you to borrow money from your balance, you can be your own helpful relative! In most cases, as long as you pay back your 401(k) loan according to the rules, the money you borrow is not reportable as taxable income.