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Federal Limitation on Withdrawals?

Is there a federal limitation on the amount of cash which can be withdrawn from a bank or investment account?


There are restrictions on the number of certain types of transfers or withdrawals that can be made from a savings account, but those rules don't affect the dollar amount to be withdrawn. There are also tax implications of certain withdrawals from retirement accounts before attaining the age of 59-1/2. Although it is not a limitation on transactions, there is a federal requirement that any cash transaction in excess of $10,000 be reported to the IRS. Other than those restrictions or requirements, there are no federal dollar limits of which we are aware.

Published on BankingQuestions.com 5/04/09