Is it Illegal to Burn Money Even if It Belongs to You?

Let's say you find yourself with an abundance of riches but the burden of being wealthy is too much for you to handle.

First off, call me and we can make some arrangements to offload some of that cash.

Second, there are a few things you should know before you consider setting all of your money on fire rather than it going to someone else.

Is Burning Money A Crime?

You'd rather burn your dead relative's money instead of your estranged siblings getting any of it. Not only would you kind of be a jerk (maybe consider donating it), but you also would be breaking the law.

The United States Code specifically says you will be fined no more than $100 and/or imprisoned for up to six months if you get caught setting money on fire.

Burning isn't the only means of monetary destruction that could land you in jail.

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The code says this applies to "whoever mutilates, cuts, defaces, disfigures, or perforates, or unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association or Federal Reserve Bank or the Federal Reserve System..."

In other words, don't think about making some sort of craft project that has you cutting up dollar bills.

What If You Accidentally Tear A Dollar Bill?

Intent matters when it comes to money destruction and potential punishment if you are caught.

The "mutilation of national bank obligations" amendment to the United States Code the destruction must be done with intent to render the money "unfit to be reissued." You'll probably be in the clear if your dog tears up a $20 bill.

If you do find yourself with money that was inadvertently destroyed, you can try taping it back together and exchanging it at a bank.

Money.com says more serve cases require the bills be submitted to the Bureau of Engraving and Printing for review by U.S. currency experts. The website says the division handle more than 30,000 claims every year totally more than $30 million.