Bringing money to the US

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Friends,

What are the rules around bringing money from Vietnam to the USA? My fiance has some money she wants to bring here (ie. more than $15,000). It is my understanding that it's difficult to bring US$ from VN to the USA (eg. I can Western Union money to her, but she can't do the same to me). Once a K-1 visa is approved, does that allow her to wire, or bring, money to the USA?

Thanks for your help.

[nenooye 8]

did you try money gram? it was pretty easy to use..

[YuAndDan 153]

Can carry from there to here, however amounts exceeding $10,000 need to be reported, it is not taxable.

[jkelly07 120]

don't send it all at once, you wil be taxed, any amount over ten thousand,so send two payments 9,99.000-and--five thousand one hunderd.

[YuAndDan 153]

don't send it all at once, you wil be taxed, any amount over ten thousand,so send two payments 9,99.000-and--five thousand one hunderd.

Nope, there is no tax on personal assets.

You need to do some study.

[CBP-SRT 9]

don't send it all at once, you wil be taxed, any amount over ten thousand,so send two payments 9,99.000-and--five thousand one hunderd.

This is 100% false. You need to declare anything over 10K on your 6059B (Customs form of declaration). Even if it's 1dollar over, you'd still need to declare it. There is no tax on it! If you don't once they find, you gonna have problems!

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Thanks Everyone. I really need to hear specifically from the Vietnam forum members because I believe there are some Vietnamese Government regulations around transfers of money. I doubt money-gram would work because the Vietnamese Government forbids the transfer of any amount of money between Vietnam and the USA (eg. I could not transfer anything to Vietnam via Western Union). I know how much money can be carried into the USA without being taxed. However, what if my fiance wanted to bring $50,000? I would never want her carrying money on the plane and it would be better to do it by bank transfer. So, for those Vietnam forum members whose fiancees came to the USA, did any of them bring money (ie. a lot) with them?

Thanks.

[YuAndDan 153]

Thanks Everyone. I really need to hear specifically from the Vietnam forum members because I believe there are some Vietnamese Government regulations around transfers of money. I doubt money-gram would work because the Vietnamese Government forbids the transfer of any amount of money between Vietnam and the USA (eg. I could not transfer anything to Vietnam via Western Union). I know how much money can be carried into the USA without being taxed. However, what if my fiance wanted to bring $50,000? I would never want her carrying money on the plane and it would be better to do it by bank transfer. So, for those Vietnam forum members whose fiancees came to the USA, did any of them bring money (ie. a lot) with them?

Thanks.

No amount of cash carried is taxed, you may be thinking about the form reporting amounts greater than 10,000, this is NOT for taxation, it has to do with tracking cases involving possible criminal activities.

http://www.cbp.gov/xp/cgov/travel/vacation/kbyg/money.xml

Lets get that straight, NO TAX. PERIOD...

Even with wire transfers this needs to be reported, and don't think about splitting it up into smaller amounts.

You may bring into or take out of the country, including by mail, as much money as you wish. However, if it is more than $10,000, you will need to report it to CBP. Ask the CBP officer for the Currency Reporting Form (FinCen 105). The penalties for non-compliance can be severe.

http://www.cbp.gov/xp/cgov/travel/vacation/kbyg/money.xml

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Thanks. That seems clear. However, I wonder whether the Vietnamese Government does restrict outgoing currency (either at the airport if carrying cash, or by bank transfer). I was told that the Vietnamese Governmenet will not allow much money to leave Vietnam. However, given a change in status of the fiancee' (ie. now they have a K-1), I was wondering whether the Vietnamese fiancee' would be permitted to wire the money from her bank to mine (and not carry so much cash on an airplane).

[EmYeu 3]

To make your case simple..

when she comes to the US.. you should come back and then fly back with her.

each carry 10K and don't need to report anything.

or you could carry all of her money in your body.

Custom will not check you.. but they will check her if they feel like they want to.

Or simply declare your money and telling how much she have it on her.

[fred n Dao Honey 0]

from VN you can bring 7k per person. Transfer from VN bank is limited to 7K a year. This includes from a family member. you could have many family members send to you. Check your messages for more info.

[felo391971 4]

Read I travel alot Internationaly . You must Decleare over 10K Read and if you must make sure you have some kind of official documents explainig where is that money come from. Just my 2 cents .

[bruno. 4]

To make your case simple..

when she comes to the US.. you should come back and then fly back with her.

each carry 10K and don't need to report anything.

or you could carry all of her money in your body.

Custom will not check you.. but they will check her if they feel like they want to.

Or simply declare your money and telling how much she have it on her.

I don't think that will work to my understanding of what is written on the back of the CBP form 6059B. I attached a copy of it and underlined the part I think relates to the issue of the OP.

The way I understand it, if you get your fiancée to carry part of your money, you still need to declare it but I could be wrong and have misread the form. It is just my personal understanding of it.

[VinhBao MyTam 3]

To all the very helpful posters from other regions... I think the OP is more concerned with how to bring the money out of Vietnam than how to bring it into the US.

[BinhJerome 14]

Thanks Everyone. I really need to hear specifically from the Vietnam forum members because I believe there are some Vietnamese Government regulations around transfers of money. I doubt money-gram would work because the Vietnamese Government forbids the transfer of any amount of money between Vietnam and the USA (eg. I could not transfer anything to Vietnam via Western Union). I know how much money can be carried into the USA without being taxed. However, what if my fiance wanted to bring $50,000? I would never want her carrying money on the plane and it would be better to do it by bank transfer. So, for those Vietnam forum members whose fiancees came to the USA, did any of them bring money (ie. a lot) with them?

Thanks.

Vietnam does NOT like money leaving, I am a foreigner and I have to jump through hoops to simply send money western union, and if you try to leave with alot, expect them to try and "tax" it. So in my opinion the best way to get money out of the country is to have her open a bank account here at HSBC or EXIM and get a VISA or MASTERCARD debit card. The reason for this is that I have used it to purchase things overseas like my college books $800 and other big expenses with NO problems at all. You might get hit with a small transfer fee here and there, but there is NO hassle at all and she will be able to use it in any country. Hope this suggestion helps, but if you are wanting to do the cash thing, just check with the local athorities and make sure you claim every bit of it, especially when you land in the USA or they could say you were smuggle it into the country then seize it and say it was drug money or any other thing they can think of costing you time and money trying to get your money back.

As the others have said it is assetts so there is no tax on it, the problem is that you have to claim it and bring extra attention to you during the entry and exit to Vietnam

Jerome and Binh