Article Summary
Learn how cash and bitcoin transfers between your River accounts work, their limits, ForceField effects, and tax implications.
A cash or bitcoin transfer between accounts lets you move cash or bitcoin under the same login. This is useful if you hold multiple accounts and want to reorganize the funds flowing between them. Common examples include having both an individual account and a business account under the same login or having several individual accounts under the same login.
- How do cash or bitcoin transfers between accounts work?
- When are cash or bitcoin transfers between accounts useful?
- What are the limits for cash or bitcoin transfers between accounts?
- Does ForceField affect cash or bitcoin transfers between accounts?
- Do cash or bitcoin transfers between accounts affect my taxes?
How do cash or bitcoin transfers between accounts work?
You can transfer cash that's available to withdraw, or bitcoin that's available to send, from one of your accounts to another account under the same login. For bitcoin transfers, your existing cost basis methodology continues to apply. This means that any lot information, including both the cost basis and the acquisition date, will carry over from the sending account to the receiving account.
When are cash or bitcoin transfers between accounts useful?
A cash or bitcoin transfer between accounts can be helpful any time you want to:
- • Consolidate funds from one account into another (for example, before a large purchase)
- • Move cash or bitcoin out of a business account into a personal account, or vice versa
- • Organize bitcoin holdings across multiple individual accounts
What are the limits for cash or bitcoin transfers between accounts?
For cash, the minimum transfer amount is $0.01, and there's no maximum, so you can transfer up to your full withdrawable balance. For bitcoin, the minimum transfer amount is 10,000 satoshis. If your available-to-send balance is below 10,000 sats, you'll need to transfer your full remaining balance. There's no maximum for bitcoin either, so you can transfer up to your full available-to-send balance.
Does ForceField affect cash or bitcoin transfers between accounts?
If you have ForceField enabled, both cash and bitcoin transfers consume the ForceField limit of the account the funds are coming from. If the originating account does not have ForceField enabled, the transfer has no ForceField implications, regardless of whether the receiving account has ForceField.
You are also able to increase and decrease your ForceField limit without deactivating ForceField:
- • Increasing your limit takes effect 5 days after the change, and you'll receive a daily notification leading up to it
- • Decreasing your limit takes effect immediately
For more information on ForceField, please see this Help Center article.
Do cash or bitcoin transfers between accounts affect my taxes?
If you're transferring bitcoin between two accounts with the same title (for example, individual to individual), there is no reporting obligation, since ownership has not changed. If you're transferring to an account with a different title, there's no reporting obligation. An example would be transferring funds from an individual account to a business account or vice versa.