Proposed under Bill C-2 (the Strong Borders Act, introduced in June 2025), new Canadian anti-money laundering regulations prohibit businesses and individuals from accepting cash payments, donations, or deposits of $10,000 or more in a single or related series of transactions. It also restricts third-party cash deposits into bank accounts.
When to submit a Large Cash Transaction Report. You must submit a Large Cash Transaction Report to FINTRAC when you receive $10,000 or more in cash in a single transaction from a person or entity.
Two key measures in Bill C-2 that will impact charities and non-profits. Bill C-2 proposes two major anti-money laundering measures that will affect charities and non-profits: a broad prohibition on cash transactions of over $10,000; and. restrictions on third-party cash deposits accepted by banks.
There are no federal limits on cash deposit amounts, but deposits over $10,000 trigger mandatory reporting by your bank to the IRS (Form 8300/CTR) for anti-money laundering, requiring identification and documentation for large sums, and structuring (breaking up deposits to avoid reporting) is illegal with severe penalties, even if funds are legal. Banks must also file Suspicious Activity Reports (SARs) for activity over $5,000, so be prepared to explain large, unusual deposits with records of the cash's legal source.
Is Bill C-12 likely to become law? The bill has passed its third reading in the House of Commons and its first reading in the Senate. It will become law if it passes its third reading in the Senate and receives royal assent. The Senate will resume consideration of the bill when it reconvenes in February 2026.
Bill C-3 Allows More People to Become Canadian Citizens. Bill C-3 was passed on December 15, 2025, and it has since brought an important change to Canadian citizenship law. This new law ended Canada's “first-generation limit,” which means that many people may now be eligible for Canadian citizenship.
The $1,000 "Welcome to Canada Bonus" is a General Motors (GM) program for new Permanent Residents or Temporary Workers, requiring a valid PR card (arrival date generally 2022 or later) or a valid work permit, plus a Canadian driver's license, for the purchase or lease of a new eligible Chevy, Buick, GMC, or Cadillac vehicle. Eligibility hinges on your status at the time of purchase, with specific arrival year requirements for Permanent Residents.
Generally, any person in a trade or business who receives more than $10,000 in cash in a single transaction or in related transactions must file a Form 8300. By law, a "person" is an individual, company, corporation, partnership, association, trust or estate.
It's not just lump sum cash deposits that can raise flags. Several related deposits that equal more than $10,000 or several deposits over $9,800 can also trigger a bank's suspicion, causing it to report the activity to FinCEN.
Federal regulations require specific reporting when physical currency deposits into your financial institution exceed certain amounts—not to restrict your deposits, but to help combat money laundering and financial crimes. The key number to remember for 2025 is $10,000.
Special rules apply for deposits over $10,000
Under this law, when you make a cash deposit of $10,000 or more, the bank is required to file a Currency Transaction Report (CTR).
There are no restrictions on carrying CAD $10,000 or more into or out of Canada and it is not illegal to do so as long as you declare it. The CBSA will not return funds if they are seized as suspected proceeds of crime or funds for financing terrorist activities.
Banks must report cash deposits of more than $10,000. Banks may also choose to report suspicious transactions like frequent large cash deposits. Large cash deposit reporting regulations exist to catch fraud and illegal activity. You may incur a fine or penalty if the bank reports your deposit before you do.
A paper trail of potentially suspicious deposits is created after Form 8300 is transmitted to the IRS. Depositing cash at an ATM or with a bank teller, so long as it is below the $10K threshold, will usually not be reported.
The most common way of depositing the funds into your account, especially in amounts over $10,000, is by going to the bank and speaking to a teller. They will let you know if there are any processing fees for the deposit, and if you have an account that will allow for the balance.
You can deposit any amount of cash without being automatically flagged if it's under $10,000 in a single transaction, but banks must report deposits of $10,000 or more to the IRS via a Currency Transaction Report (CTR). While large, legitimate deposits are fine, making multiple deposits to stay under $10,000 (structuring) is illegal and triggers Suspicious Activity Reports (SARs), leading to potential account freezes or law enforcement scrutiny, so transparency with your bank is best for large sums.
The best thing you can do to avoid the suspicion of illegal activity is to just deposit the money all at once, whether it is a small amount from your daily sales or it is a large amount from a huge sale. Always file the appropriate forms.
Banks report individuals who deposit $10,000 or more in cash. The IRS typically shares suspicious deposit or withdrawal activity with local and state authorities, Castaneda says. The federal law extends to businesses that receive funds to purchase more expensive items, such as cars, homes or other big amenities.
The best way to deposit large amounts of cash is to visit a branch in person. It's safer, and a banker can count the money in front of you in a more private area to ensure you agree on the deposit amount.
A trade or business that receives more than $10,000 in related transactions must file Form 8300. If purchases are more than 24 hours apart and not connected in any way that the seller knows, or has reason to know, then the purchases are not related, and a Form 8300 is not required.
The $1,200 payment is a one-time direct deposit issued by the Canada Revenue Agency for seniors classified as low income based on their most recent tax return. The payment is not a loan, does not need to be repaid and does not replace existing monthly benefits.
No, you can't just move to Canada from the U.S. without authorization; while you can visit visa-free for up to 180 days, settling permanently or working requires an approved immigration pathway, with popular options for Americans being the skilled worker Express Entry system, Provincial Nominee Programs (PNP), or specific work permits like CUSMA (USMCA) professionals, all demanding planning, documentation, and meeting specific criteria for age, skills, education, and language.
Eligibility and details for the $250 rebate.
To qualify, individuals must meet criteria such as working in 2023, earning under $150,000, filing a tax return, and being a Canadian resident on March 31, 2025. Payments will be issued automatically via direct deposit or cheque by the CRA.