Seems like a good idea before there is a bank run due to various reasons. Do I have to report a withdrawal of like 5k?
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You don't have to report the bank does that for you. Anything over 10K gets reported.
No it really doesn't get reported. That is only on suspicious deposits of 10K and over
Every cash transaction over $10k gets reported, suspicious or not. It’s called a Currency Transaction Report and the bank could get fined or have legal penalties if they don’t file for every cash transaction over that amount.
They may file but the powers that be don't investigate unless it's suspicious. I've done MANY transactions over 10K and never had a knock on my door. And banks never questioned me about the transactions.
Were they cash transactions? If they were and it’s a bank where you have an account, the teller likely did the CTR without even telling you since they already have all of your information for your bank account. If they were not cash transactions, a CTR was not required. It’s the bank that gets fines for not filing a CTR when required, not you as a customer. So if they didn’t do one when they should have, you wouldn’t be made aware of that.