re: Which bank transactions must be reported to the Feds?

quote:

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Is this also true for small business accounts?

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Yes, however the bank has some discretion in that if the bank "knows the customer" it may not report smaller transactions which total over $10,000 because the customer's relationship manager understands the nature of the customer's business.

However, because of the draconian money laundering fines the bank might be subject to if it does not report transactions and it is later determined that non-reporting contributed to the bank's customer being able to launder money, many banks take a very conservative view and report EVERYTHING which might be even the slightest bit suspicious.