I am in the process of moving some of my savings to gold but don’t want to trigger the IRS reporting or anything else for that matter. If I withdrawal $3,500 a day or a few times a week, will that cause problems? I have been saving for a while, and so it is definitely out of the ordinary for me to withdraw that kind of money frequently, however, I did tell them what I was doing, and even inquired about safety deposit boxes to store the gold I am buying.
By my foggy memory of the mandatory money laundering training from when I worked at a bank a few years ago, basically any unusual transactions are supposed to be reported to the IRS, and bank employees will notice multiple large withdrawals in short succession. Also if I remember correctly the mandatory reporting amount is not per lump sum but includes over time as well. While I worked there I overheard plenty of bonkers reasons people decided to do strange things with their money so just withdrawing a large sum of money for any reason is fine. It’s your money to do with as you see fit .
Simply put, don’t try to hide what you’re doing. Just do it and own it if/when asked