Before registering yourself as an individual entrepreneur, you should consider that it is not very easy to withdraw funds from the current account of an individual entrepreneur, especially at first. There are a number of restrictions, according to which merchants do not have the right to withdraw funds at any time convenient for them and in any amount. How does an IP withdraw money from a current account?
It is worth remembering that banks have set withdrawal limits, and exceeding this limit entails a high commission. But, despite this, there are several legal and convenient ways to cash out money from the current account of the individual entrepreneur. This article describes the withdrawal procedure and recommendations that will allow you not to attract excessive attention of the tax authorities and not fall under the high percentage of the bank's commission.
How to withdraw funds from a current account
Often in entrepreneurial activities there are situations when it is necessary to withdraw money from the account. There are 4 main ways to do this. How does an IP withdraw money from a current account? Each method should be considered separately.
Checkbook
This method was popular several years ago, but at the moment it is gradually losing its relevance. The withdrawal procedure can last three days, which causes inconvenience to the entrepreneur, especially if he urgently needs cash. Another feature of this method is that the bank is obligated to provide the client with documents confirming the withdrawal of funds from the account, as well as the write-off of VAT. A checkbook for IP can be used today, but other methods will be much more convenient in practice.
Bank card
If the amount is large, then you must first write an application, because sufficient funds may not be in the bank branch. You will be issued a cash settlement account with a current account. Then, as an individual entrepreneur, you must transfer the funds received at the bank to the balance sheet of your enterprise and only then can you use them for your own needs. This is one of the most common methods of withdrawing cash from the current account of IP.
Cash card
Similar cards have one more name - corporate. They are attached to your IP account and provide the full functionality of ordinary plastic cards, that is, you can cash out funds in any terminal at any time. But it is worth noting here that large amounts should not be withdrawn, especially at first. Otherwise, it will attract close attention from the tax authorities.
Individual card
To do this, you must first transfer the funds from the IP account to the account or card of an individual. You can transfer to an account belonging to the same bank as the current one. And then the entrepreneur can transfer funds via the Internet and cash them in the nearest machine. However, this can be done no earlier than a day after the transfer of money from the settlement account of the individual entrepreneur.
Commission on the current account
The bank imposes a commission on almost all of its operations. Cash withdrawals from current accounts are no exception. The percentage of commission mainly depends on the amount withdrawn. In addition, different banks offer different conditions for servicing accounts.
The minimum commission is less than 1% of the total amount, but it increases if the individual entrepreneur does not have wage workers. The exact wording of the purpose of the funds should be indicated on the payment receipt. “Salary IP” - does not fit. Such operations are immediately rejected by the bank, as they contradict the legislation of the Russian Federation.
Basically, the commission is from 1 to 1.5%. There is also a minimum tariff in rubles. It is 250 rubles. In other words, the commission cannot be less than this amount.
Using a corporate card, the commission increases and amounts to 5% of the amount withdrawn from the account. You can also clarify the exact rates in the process of opening an account in one of the banks. All information must be provided by employees of a financial institution. Having received this information, it is worth making the optimal choice where it is better to open a current account for individual entrepreneurs. Subsequently, it will be useful in the withdrawal and transfer of funds.
How to cash out without additional fees and expenses
In the event that it is necessary to transfer money to a bank card to an individual entrepreneur, the additional commission fee may not be charged (except for cases when payments are made in the amount of twenty to eighty rubles) or charged at a minimum amount. This is the main advantage that plays a role when an entrepreneur opens an account for individuals. The main condition is to open it in one bank with a current account. There is a certain category of financial institutions that carry out transfers to individuals' accounts with third-party banks. Given all this, you should decide on where it is better to open a checking account for individual entrepreneurs.
In various banks, tariff plans are limited by the amount of transfers, if exceeded, a fee is charged. In some large institutions, the permitted withdrawal limits are limited to 100-150 thousand rubles. Smaller banks allow transfers that are not subject to a commission for a total amount of not more than 250 thousand rubles for 4 weeks. If the established limits are exceeded by at least one ruble, a commission will be charged from the entire transfer.
How does an IP withdraw money from a current account so that it is cheaper and does not attract increased attention? To withdraw large amounts of money without commission fees, individual entrepreneurs go to the trick and open accounts in different banks, which ensures cashing out as soon as possible. For example: you need to withdraw 1 million rubles in one day. Most banks consider such transactions suspicious. Removing 150-250 thousand rubles from accounts in various institutions, the IP will be able to avoid unnecessary difficulties and complete the task.
We must not forget that banks charge a commission for payment orders. Sometimes, in the framework of stocks held by banks at certain tariffs in the first months , they will not be charged. You can use the service packages, which include free payment orders, but it is worth remembering that the price will be higher.
In addition, some tariff plans offer a number of transfers for free. For example, a current account for FE VTB Bank makes it possible to transfer up to 25 payments per month without commission. However, these tariffs require a monthly payment and have other nuances that can entail many costs.
How to choose a financial organization?
The list of banks providing the best conditions for withdrawing funds from settlement accounts is presented below. It is advisable to study this information in detail, then to use it to complete profitable transactions. In all these financial institutions, you can open an additional account with the possibility of further transfer to the main one.
The list of financial institutions with the lowest commission is as follows:
- “Point” (a bank that is part of the Otkrytie group) - up to 300 thousand rubles for 4 weeks without a fee, after exceeding the limit - 0.5 percent.
- Tinkoff Bank - up to 300 thousand rubles without withdrawing fees, then - from 1 percent. There is an interesting option, which is as follows. Deposit 2990 per month and use an unlimited amount to withdraw funds.
- “Modulbank” - can be transferred without interest up to 1 million rubles, after - from 1 percent. There is also a very interesting tariff plan, which offers to deposit an amount of 19 rubles for payment orders and withdraw immediately up to half a million rubles.
- “Expert Bank” - will provide an opportunity to transfer up to 700 thousand rubles without commission.
- “VTB Bank” - a current account for an individual entrepreneur is offered with a certain amount of free payments per month (from 5 to 25, depending on the tariff). However, commissions are provided for depositing funds, albeit small ones.
- UBRD - from 1 percent, and subsequently depends on the amount of a single withdrawal.
- Loko Bank - 0.6 percent.
- Vesta Bank - from 1 percent.
- Alfa-Bank - from 0 percent, but it depends on the tariff and the amount to be withdrawn.
- Sberbank - from 1.4 to 3 percent. Many individual entrepreneurs prefer opening a current account with Sberbank, as the organization offers a convenient tool for online transfers.
- SKB-Bank - from 1.5 percent.
What limits can be set?
How much money can an individual entrepreneur withdraw and are there any restrictions? The law clearly states that everything on the account is the personal property of the individual entrepreneur and he can dispose of his money as he wishes. Thus, there are no restrictions on withdrawing money for personal purposes. No tax is levied on such transactions.
The main aspect that you need to pay attention to when withdrawing funds for non-commercial needs is the need for proper execution of payment documents. Otherwise, the tax service will consider them expenses, and personal income tax will be withheld from you. This is one of the basic rules of how an individual entrepreneur withdraws money from a current account.
Can I withdraw money often? There are no restrictions on cash withdrawals.
The nuances of receiving money from the entrepreneur's account
If you need cash, you need to be aware of the key points of withdrawing them from your payment account. It is worth considering some nuances before withdrawing money:
- No extra money will be given to you. A bank is charged a fee for using a current account by a banking institution. As a result, the required amount will be withdrawn, taking into account the commission.
- It is necessary to save all kinds of payment checks, such as confirmation of withdrawal or deposit of funds to the bank cash desk and your company. The need for them will arise in the event of disputes with the tax authorities.
Permissible withdrawal difficulties
Businessmen experienced in working with current accounts are aware of all their subtleties. There are several significant errors and unpleasant results that may be made by new entrepreneurs. These include the following:
- Wasting money on non-trading needs (for example, purchasing goods on the Internet, paying directly from the account for the delivery of equipment to the house). Some tax systems provide for the dependence of the amount of collection on waste. This gives an occasion to the fiscal authority to regard personal expenses as business expenses, therefore, an entrepreneur needs to calculate the amount of the tax charge and add it to the internal reporting. To avoid overpayments from your own wallet, personal money is withdrawn or transferred to an individual’s card.
- Transfers to family members and friends are assessed by tax officials as making a profit. Therefore, payment is subject to a 13% charge. In order to avoid this situation, it is important to use a bank account solely for business purposes. Upon receipt of money in the current account of the individual entrepreneur, transfer it to a personal account or use the checkbook.
Reporting
The law does not force an individual merchant to adhere to strict reporting. In turn, its existence is a guarantee of a positive relationship with the tax authorities.
In the process of filling out a payment document through a banking authority, to acquire legal force, it is important to indicate "the amount and purpose of the payment." The process of withdrawing money from the account is not displayed in any way in the IP reports, since this is the prerogative of credit organizations. The full amount of funds is shown only in the declaration for the year / quarter.
Postings
The entrepreneur must correctly reflect in the reporting actions on the funds, using one of the posting options.
The first posting looks like this:
- Dr. Kt Operation.
- 84 75 Accrual of income of an individual entrepreneur.
- 75 50 Payout. "
This method of filling out documents is most suitable for instructions on how to withdraw money from the account of Sberbank.
The second correct wiring is as follows:
- Dr. Kt Operation.
- 76 91 Accrual of profit of individual entrepreneurs.
- 76 51 Payment of funds for personal needs.
To prevent the entry of the article of own waste in the statement of account, it is worth writing in the analytical account that the action was not reflected in the tax. Otherwise, the tax base will decrease, which will result in a levy on the part of the tax service.
Wrong withdrawal options
Not every businessman is law abiding, especially when a lot of money is at stake. The withdrawal of cash in a substantial amount leads to the blocking of the account by the time the issue of calculating funds is resolved. Therefore, do not immediately try to transfer a large amount.
There are known cases of withdrawal of money through one-day firms issued for a deceived person or according to stolen documents. Large amounts are transferred to the account of such a company by the IP and are withdrawn by it, and the one-day company does not pay the mandatory tax.
Most often, businessmen resort to illegal methods of withdrawing money to avoid paying taxes. As a result, unlawful actions identified by government agencies have to pay many times more. Illegal withdrawals involve a fine or more severe punishment.
To prevent negative results, it is recommended to use reliable legal options for withdrawing cash from the current account of the individual entrepreneur. This will not be inconvenience, only the choice of the appropriate method is important. Remember that in an attempt to save, you can lose much more if you commit serious violations of the current law.