How much cash can one bring into the US?

[AmyWrites 593]

Title explains itself. I've read 1500 and 10000.

[Harpa Timsah 13,258]

You can bring as much as you want. You need to declare any amount over $10000, but that's all. You do not need to pay tax on it or anything. People get freaked out because the customs form says "are you carrying any amount over $10000."

[AmyWrites 593]

I've been in Russia so long I've become very cynical about the authorities. Any chance if I bring over 10000 and declare it they'll steal some of it?

[Harpa Timsah 13,258]

I've been in Russia so long I've become very cynical about the authorities. Any chance if I bring over 10000 and declare it they'll steal some of it?

Nope. That is illegal. Why don't you just wire transfer it over? Then the bank will do the declaration for you.

FYI:

Here is the declaration form from CBP with line by line instructions. It says if yes on the $10000 question, then you fill out Form 4790 (the declaration).

http://www.cbp.gov/linkhandler/cgov/travel/id_visa/i-94_instructions/sample_cbp_decla.ctt/sample_cbp_decla.pdf

According to this, the form has been renamed FinCen 105. This also confirms there is no limit on the amount you can bring.

https://help.cbp.gov/app/answers/detail/a_id/195/kw/CUSTOMS%20FORM%204790/session/L3NpZC8yOGpJdkgybA%3D%3D

Here is FinCen 105:

http://www.fincen.gov/forms/files/fin105_cmir.pdf

Edited August 2, 2012 by Harpa Timsah

[JohnR! 5,495]

1343921272[/url]' post='5578280']

I've been in Russia so long I've become very cynical about the authorities. Any chance if I bring over 10000 and declare it they'll steal some of it?

No, they will not steal it from you but you need to bear in mind that you may need to declare the money on your way out of Russia and there may be limits as to how much money you can take with you.

Entering the US, the reason for declaring large sums of money is that if you want to deposit that money into a bank account, your customs declaration will serve as proof of origin, for the money. It prevents tourists from being used as mules for money launderers. Cash is the preferred method of payment of drug dealers and many a illegal business, including the financing of terrorism.

[Kathryn41 3,205]

It is good to remember, however, that if you try to bring the money into the US and don't declare it, that it can then be confiscated. If you do declare it, then are no problems.

Keep a copy of the completed form for yourself. You can prepare it before hand and just hand it in at customs- or if you receive the money in the US after you've moved, you just mail in the form to the appropriate address.

Edited August 2, 2012 by Kathryn41

[aaron2020 11,651]

The problem is money laundering from illegal activities. The US wants assurance that the money you are bringing in is not from illegal activities.

You must declare any amount over $10,000.

For large amount of money, you may be asked to prove that the money was obtained legally. The US may temporally keep the money until you can prove that it was from legal sources.

The burden is on you to prove that the money came from lefal sources and not from illegal activities because you are the one that wants to bring it into the US.

Most people send large amount of money by wire bank transfers. Bringing large amount of cash into the US is not normal.

Edited August 2, 2012 by aaron2020

[lilsweetie 30]

So no taxes on more than $10000? I am selling my home and want to bring across more than $100000

[Owen_London 65]

So no taxes on more than $10000? I am selling my home and want to bring across more than $100000

This is about reporting of money entering the US, not about taxes.

What tax you have to pay on your home sale will depend on many other things - the dual taxation treaty, if you sell it before you become a US resident, how much you paid for it, how long you've owned it, how much you're paying in other taxes, etc.

[lilsweetie 30]

This is about reporting of money entering the US, not about taxes.

What tax you have to pay on your home sale will depend on many other things - the dual taxation treaty, if you sell it before you become a US resident, how much you paid for it, how long you've owned it, how much you're paying in other taxes, etc.

If there is no gain (in fact there is a loss), then I believe there wouldn't be taxes, right?

But forget about the home sale aspect. Say I had $300k in the bank and wanted to bring it over. NOT from the sale of a house. Would there be taxes on that much coming into the US?

[Owen_London 65]

If there is no gain (in fact there is a loss), then I believe there wouldn't be taxes, right?

But forget about the home sale aspect. Say I had $300k in the bank and wanted to bring it over. NOT from the sale of a house. Would there be taxes on that much coming into the US?

On the house, yes, I think that's correct, though I'm not a tax professional. You might even be able to use the capital loss to offset against a capital gain elsewhere.

There are no taxes on you moving your own money around. You've previously earned that money and paid tax on it, if applicable, in Canada. The US won't tax it.

[Josefranko9 0]

How much money can I bring into the United States?

Customs and Border Protection (CBP) does not collect duty on currency. However, travelers leaving or entering the U.S. are required to report negotiable monetary instruments (i.e. currency or endorsed checks) valued at $10,000 or more on a "Report of International Transportation of Currency or Monetary Instruments" form FinCEN 105.

You can obtain the form in advance and download it from here FinCEN 105, or a CBP Officer can give it to you upon your departure or return to the U.S.

Failure to declare currency in amounts of over $10,000 can result in its seizure.

Information on the FinCEN 105 is provided to the Internal Revenue Service (IRS), and they determine whether or not the importation of monies constitutes income subject to taxation.

The requirement to report currency on a FinCEN 105 does not apply to imports of gold bullion.

FAILURE TO FILE THE REQUIRED REPORT OR FAILURE TO REPORT THE TOTAL AMOUNT YOU ARE CARRYING MAY LEAD TO THE SEIZURE OF ALL THE CURRENCY OR INSTRUMENTS, AND MAY SUBJECT YOU TO CIVIL PENALTIES AND/OR CRIMINAL PROSECUTION.

It is a lot easier when you use your bank to transfer any amount in to the USA. It will be reported to the IRS

[Josefranko9 0]

Other Situations

• Travelers do not have to declare a wire transfer made via regular banking procedures. The bank will report the transaction to the IRS. However, if a person ships more then $10,000 to the United States, whether by mail or other methods, he must declare this transaction and fill out the necessary form to submit to the CBP. Additionally, if an individual in the U.S. receives a shipment of money in excess of $10,000, she must declare that as well.

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