If I carry more than $10,000 while traveling to USA, will it be taxed?

[grad_student 11]

I am well aware that if I am carrying more than $10,000, I need to declare it to CBP using FinCEN 105 form. But I wanna know if I declare that much of cash, will it be taxed by IRS? Are there any other consequences of carrying such large sum of money that I should be aware of before hand?

Thanks

[NancyNguyen 1,657]

There are no customs duties, taxes or other fees paid to U.S. Customs for the international transportation of the money; it is merely a reporting requirement to U.S. Customs.

[Boiler 43,596]

Why would you want to do that?

[mallafri76 1,012]

Why don't you just to a bank transfer? Quicker and much much safer than carrying around $10,000.

[grad_student 11]

Why would you want to do that?

Avoid paying bank fees. Cost me $54 last time I transferred money over to US.

[Boiler 43,596]

Use a different service.

[grad_student 11]

Use a different service.

I dont know any other service. Transferring it through Western Union would be even more expensive. Any ideas?

[grimm_jow 3]

Use transferwise. We use it all the time to make transfers. Cheapest I know. Would definitely recommend.

[B-2-Z 37]

Seems very dangerous. Consider writing a check to yourself and opening an account in the US to deposit it. I would also think that if you have more than $10000, $54 seems like pennies for a matter of safety.

[grad_student 11]

Why don't you just to a bank transfer? Quicker and much much safer than carrying around $10,000.

Dont understand why its dangerous. Its not like I am gonna get jumped inside the airport. Have carried like $3000 before. Dont think $10K would be a big deal.

[Boiler 43,596]

Xe.com

What are you studying??

[Jawaree 717]

As long as the amount is declared .. 10Gs & over...no tax by the US,

I heard in some cases you are taken to a room where amount is counted

& verified confirming amount revealed

[kris&me 572]

This is assuming you are coming in on the CR 1 spouse visa:

this will be considered income in the US and taxed when your spouse does 2015 income taxes unless you file separately and then you will claim it as income for tax purposes

[NancyNguyen 1,657]

This is assuming you are coming in on the CR 1 spouse visa:

this will be considered income in the US and taxed when your spouse does 2015 income taxes unless you file separately and then you will claim it as income for tax purposes

Please don't give false information, he is asking about Customs. It is irrelevant with IRS.

[PhilLuv 43]

Declared the cash and also make sure u have some sort of proof where the money comes from, like bank statements or receipt of withdrawal.