Have you had any problems with large Bitcoin cashouts?

[Biodom]

cashouts that big (40k$) can make some problems, im curious however in cashouts in milions, early adopters could tell quite a story i suppose

Yeah, what happens if you send a cool million to an account that never has had a balance over 10k

I think they'll freak out.

first, send 20K, then 50 K, then 100K, then the rest 830K, LOL.
On a more serious note, in US FDIC insurance is up to $250k, so everything above it you can easily partially lose in an unlikely bad situation.
You would probably need to have a different type of account with the bank (Edit:brokerage), where you immediately convert money above 250K into treasury bills.

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[keithers]

If you are buying $40,000 worth of stuff, I hope your guardians would notice. Not sure if authorities would ask your guardians about your taxes. You can try calling Revenue Canada and asking them.

This is something that you would probably want to involve your guardians in.   They will actually probably be proud of you for making such a good investment.   Trying to do everything in the dark cannot end well.  Is there any particular reason you need 40k?   If you don't need the entire lump for something specific (i.e. car, portion of a down payment on a home, another investment), you don't want to be sitting on all that cash anyways.   At least right now, your money is working for you...Cash does nothing for you.

[keithers]

cashouts that big (40k$) can make some problems, im curious however in cashouts in milions, early adopters could tell quite a story i suppose

Yeah, what happens if you send a cool million to an account that never has had a balance over 10k

I think they'll freak out.

Most banks in the US are only FDIC insured up to a quarter mill.  Not sure you would want to wire that much in one transaction to one account anyway.

***oops just saw that this was already posted above... Sorry

[ShakyhandsBTCer]

I'm about to make a cash out of about $40k+ and am wondering if I will be met with any resistance. For someone under 18 and residing in Canada what obstacles would there be? I will most likely be selling on something like localbitcoins for cash to a verified person. I will be reporting this $40k+ to taxes (I'm not an idiot I'm not going to try and evade tax on big purchases). If I follow all rules filing taxes etc. Will I receive any trouble? Also will my guardians be notified of my money when I file my taxes?

You will likely raise a lot of red flags if you are trying to transact that amount of funds period.

You will raise even more red flags if you are underage, even if you did earn the funds legitimacy.

I cannot tell you how many times I was questioned when I tried to take money out of the bank (in the US) when I was 16 and 17 years old.

[cryptopaths]

I'll be making the transaction in a week or so I'll let you guys know what obstacles I encounter.

[BitcoinBud44]

Not sure how the banking system works, but can you not just deposit it slowly over time into your account?  When would alarm bells ring?