Comment Re:Penalties (Score 1) 100
There is a difference between violating the ban and failing to file transaction reports. Even if one overpays their taxes to the federal government based on the standard deduction, they are still required to file with the IRS and can be fined.
The effect of filing makes it such that 'making a false statement' on a federal form becomes an additional crime on its own, should they fail to disclose any and all necessary transactions.