This Is What Really Happens When You Withdraw $10,000 From Your Bank Account

Motley Fool10-11

Image source: Getty ImagesWithdrawing $10,000 from your checking or savings account might not be a big deal for some. But no matter why you do it, your bank's going to let the federal government know ...

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But no matter why you do it, your bank's going to let the federal government know ...</p>\n\n<a href=\"https://www.fool.com/money/banks/articles/this-is-what-really-happens-when-you-withdraw-10000-from-your-bank-account/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Is What Really Happens When You Withdraw $10,000 From Your Bank Account</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Is What Really Happens When You Withdraw $10,000 From Your Bank Account\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-10-11 18:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/money/banks/articles/this-is-what-really-happens-when-you-withdraw-10000-from-your-bank-account/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Image source: Getty ImagesWithdrawing $10,000 from your checking or savings account might not be a big deal for some. But no matter why you do it, your bank's going to let the federal government know ...</p>\n\n<a href=\"https://www.fool.com/money/banks/articles/this-is-what-really-happens-when-you-withdraw-10000-from-your-bank-account/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SAR","symbol_name":"Saratoga Investment Corp","start_time":0,"source_url":"https://www.fool.com/money/banks/articles/this-is-what-really-happens-when-you-withdraw-10000-from-your-bank-account/","article_id":"2574818458","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fm.foolcdn.com%2Fmedia%2Faffiliates%2Fimages%2FOlder_woman_getting_assistance_from_a_bank_te.width-1200_y5XysYS.jpg&op=resize&w=165&h=104"],"rights":{"source":"fool_stock","url":"https://www.fool.com/money/banks/articles/this-is-what-really-happens-when-you-withdraw-10000-from-your-bank-account/","rn_cache_url":null,"customStyle":"","selectors":".main-contain, #article-page","filters":"#sticky-wrapper, .navigation, .article-page-end, .foot, .author-tagline, .author-inline, .footer, .soc-share, .wysiwyg, .related-content","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2574818458","pubTimestamp":1760178600,"columns":[],"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"Thinking of taking $10,000 out of your savings account? Here's what happens when you do it -- and why the government will find out.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SAR":"Saratoga Investment Corp","BK4135":"资产管理与托管银行","CTR":"ClearBridge Energy MLP Total Return Fund Inc"},"translate_title":"这就是当您从银行帐户中提取10,000美元时实际发生的情况","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CTR":1,"SAR":1},"content_text":"Image source: Getty ImagesWithdrawing $10,000 from your checking or savings account might not be a big deal for some. But no matter why you do it, your bank's going to let the federal government know about it.Here's what happens when you take out $10,000 or more -- and why you probably don't need to worry about it.Your bank files a report with the governmentHere's the law: Financial institutions must file a report known as a Currency Transaction Report (CTR) for any cash withdrawal or deposit over $10,000. The report then goes to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.This is to help prevent money laundering, fraud, and organized crime. The report also includes your name, account details, transaction amount, and how the money was taken out -- whether it was cash, check, or some other form.A CTR is shared with several agencies, including the IRS. That's not a big deal so long as you're doing nothing illegal, but it could lead the IRS to take a closer look at your finances.You might think you can dodge the CTR by withdrawing $5,000 now and $5,000 later. Don't do it. Your bank could file a Suspicious Activity Report (SAR) for withdrawals under $10,000 if they think you're trying to game the system.Did you know you don't need to take money out of your savings account to earn a solid return? Right now, top high-yield savings accounts are offering APYs of 3.80% or more, which means you could be earning $380 a year in interest on your $10,000.For a better place to store your cash, check out our list of the best high-yield savings accounts available today.The takeaway: Don't panic, be transparentTaking $10,000 out of your checking or savings account isn't illegal or even uncommon. But it also doesn't happen without the government taking notice.If you need to take out a large amount of money, do it all at once. If anyone asks what it's for, be honest. There's nothing wrong with accessing your cash, but transparency is key.And if you're not committing fraud or doing anything else illegal, you won't have any reason to worry.Want to earn more on your savings? See our full list of the best high-yield savings accounts to start earning 3.80% APY or higher now.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2574818458","isCrawlerRequest":true}