Generally speaking, there are several main risks in cashing out provident funds:

1. After the intermediary agency withdraws the provident fund, it may abscond with the money, resulting in nothing.

2. If illegal withdrawal of provident funds is discovered, it may affect future provident fund loans. For units or individuals who illegally obtain provident funds by forging, altering, buying and selling official documents, certificates, and seals, and are also suspected of criminal offenses, if the circumstances are serious, they may be sentenced to a fixed-term imprisonment of not less than 3 years but not more than 10 years.

Third, once an individual's illegal withdrawal is discovered, the provident fund management center can recover the funds in accordance with the law, and the "intermediary fees" previously paid to the intermediary agency will also be wasted. Mr. Chen mentioned above not only lost the agency fee, but was also restricted from withdrawing provident funds for three years.

So, if you find someone to collect provident funds on your behalf, it is very likely that you will lose more than you gain. It is recommended to choose carefully and withdraw provident funds in accordance with regulations.

According to the provisions of Article 24 of the "Housing Provident Fund Management Regulations", employees can withdraw the balance in their housing provident fund accounts if they have any of the following circumstances:

1. Purchase, Building, renovating, or overhauling self-occupied housing;

2. Repaying the principal and interest of loans for purchasing and building self-occupied housing;

3. Leasing self-occupied housing, where the rent exceeds a certain percentage of the family’s salary income

4. Retirement or retirement;

5. Leaving the country to settle down;

6. The employee dies or is declared dead;

7. Those who enjoy the urban minimum living security;

8. Those who have completely or partially lost their ability to work and terminated their labor relationship with the unit;

9. The basis of the management committee is relevant Other circumstances specified by regulations.

The following materials are required to withdraw the housing provident fund:

1. To withdraw the balance in the housing provident fund account, the unit where you work must first verify it and issue a withdrawal certificate.

2. Employees should apply to the Housing Provident Fund Management Center to withdraw the housing provident fund with the withdrawal certificate. The Housing Provident Fund Management Center shall make a decision to approve or disallow the withdrawal within 3 days from the date of accepting the application, and notify the applicant;

3. If the withdrawal is approved, go to the entrusted bank to handle the payment procedures.

The Provident Fund Centers in various places have different conditions and procedures for the withdrawal of Provident Funds. Please consult the local Provident Fund Center