If you make multiple smaller deposits to avoid a CTR, your bank could file a Suspicious Activity Report (SAR). Once received, FinCEN will investigate the activity to determine whether your account is involved in any fraud, money laundering or terrorist funding. Your bank is not required to notify you of this.

“You may be asked to provide additional information about the source of the funds, such as invoices, receipts or other documentation,” August said. Providing this information can also help the government identify potential red flags, such as illegal or fraudulent activity. It’s a good idea to keep records of any transactions over $10,000 for tax-related reasons.

By law, individuals, businesses and trades must file Form 8300 to the IRS within 15 days of receiving a cash sum of $10,000 or more. This form is meant to help prevent money laundering.

Everyone involved in the transaction will also need to provide a written statement to be filed along with Form 8300. If you are required to file but do not, you may face criminal or civil penalties.

Certain bank accounts come with a maximum deposit limit. Each institution has its own rules on this. For example, some banks might have different limitations based on if the deposit was done by cash or check.

Verify with your bank that you can deposit $10,000 or more into your account. “Depending on your bank and the specific amount you have, you may be charged fees or penalties for making large deposits,” Solomon said. Review your account’s terms and conditions or ask your bank about potential fees before depositing the money.

If you’re planning to deposit large sums of money into a bank account, make sure it’s secured. Any bank you use should be FDIC-insured. This means the money in your accounts — checking, savings, money market, etc. — is automatically protected up to a certain amount (usually $250,000 or more) against bank failure. While the FDIC does not insure financial losses caused by fraud or theft, your bank should have other safeguards in place to secure your money.

Unfortunately, scams and fraudulent activity are rather common when dealing with large sums of money. “Always verify the legitimacy of the transaction and the source of the funds before depositing the money,” August said.

There are several common types of scams out there. Confirm where the money is coming from, especially if it’s in a large amount. “If the source of the funds is unclear or suspicious, be careful,” Solomon said. “For example, if someone offers to pay you a large sum of money for a service or product, or if you receive an unexpected windfall from an unknown source, it’s important to be cautious and investigate the situation further.”

If you receive a check, make sure it’s legitimate as well. Some scammers will send a check for you to deposit and ask you to send back some of that money. By the time either you or the bank realizes it was a fraudulent check, it’s often too late and your money’s already gone.

After depositing a large amount of money, it’s natural to want to know when you’ll have access to it. This depends on the deposit type and the bank’s policies.

“Large transactions usually have a hold period of two to seven days to verify the authenticity of the check and the ability of the payor to meet the obligation,” Thompson said. “A bank can make the hold longer under special circumstances, but that is fairly rare.”

Cash deposits might be available more quickly. Checks, meanwhile, might take several days to clear and for the funds to show up in your bank account. When in doubt, contact your bank and ask when the money will be available.

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This article originally appeared on GOBankingRates.com: 8 Things You Should Know If You Deposit More Than $10K Into Your Checking Account