Is there any limitation to put money in the bank's saving account for F1 visa?

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Hey Guys I heard that we(F1 student) can't put money more than $9,000 or $10,000 in our saving account .If we put more than that IRS might inquiry about our income . Is that true ? Please share your ideas.

Jai_Nepal

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Bakwas

Stiffler

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Not true

Dissident

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He might have said that because if you have a significant sum of money in your SAVING account then you generate some interest. Thats like investing and you have to report it to IRS while filing tax, and F1 students cannot invest in any way. But it is so insignificant that IRS won't be after you for your 10 bucks of interest.
Chill!

Last edited: 21-Jun-11 04:33 PM

birdman2

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There is no limitation on how much money you can put in your savings account. However, if you do certain activities like deposit more than 10,000 dollars at any one transaction in your bank, you will be put in security check by the feds for money laundring. Banks will be questioned by the feds for the source of income. Just try not to deposit a lot of money at one time.
Also, if you do not perform any activities in your bank, if your bank account stays idel or has no transaction for past 6 months it will be put on temporary hold and you will need to contact your bank, in case that happens.

Last edited: 21-Jun-11 05:00 PM

Drkanchho

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tannai kamayo ki kya ho? badhi bhako bhaye yeta transfer gara, ma rakhdimla 5-7 mahinako laagi!

bigrekoketo

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Jai Nepal,
Exactly Thats what I thougt Bakwas and you are right coz ,Last nite It was told by one of my fren when we are drinkin Beer .
Stiffler and dissident,
Thanks for sharing for ideas.
Birdmanz,
You are exactly right and thanks for makin everything clear.
drkancho,
send me ur account number along with ur full name, address and credit card number too. :