If someone wanted to withdraw say 30K would it be best to keep the withdrawals under 10K..? and do you need to space these out monthly? I'm just thinking about government flags and as far as I'm concerned, it's non of their business. Thanks
Good question and one I’d like some info on as well.
You’d better keep your cash withdraws under 10k. Not only is the federal government automatically notified...there is a limit to the amount of cash you can legally carry on your person.
I have that same question.
A lot of banks will caution you about taking that much cash at once. Not for reporting reasons, but for personal safety reasons.
Taking more than ten grand out will not trigger a report. Depositing more than ten grand might. Depositing three sets of ten grand in a short period WILL get you reported.
If you plan to keep that much cash obviously you need it protected. Not just from theft, but from fire and other hazards. Your homeowners agent will laugh out loud if you file a claim for $30k cash lost in a fire.