Do state exits from international organisations (IOs) have consequences for the leaving states? This study argues that IO exit has reputational consequences, both in the case of voluntary withdrawal and forced suspension. IOs operate as hand-tying, credible commitment devices, so international actors might regard exit as a state reneging on its commitments. IO membership also signals cooperation within a social community; exit indicates that the association has been broken. Consequently, exit can generate a perception of higher risk and lower reliability due to the state’s non-cooperative behaviour. Empirically, the study builds on a comprehensive dataset of IO exits from 1919 to 2022. It documents the reputational damage of IO exit among two audiences: international investors and other states in the international community (e.g., UNSC elections). The results show that while IOs do not have strong enforcement powers, states’ non-cooperative behaviour is still punished through reputational damage in the international community.