Traveling to US with more than $10,000 in cash or equivalent
Apr 18, 2014, 4:42 pm
#1
Original Poster
Join Date: Apr 2014
Posts: 6
Traveling to US with more than $10,000 in cash or equivalent
Hi all,
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
Apr 18, 2014, 4:45 pm
#2
Join Date: Jul 2013
Location: DAY/CMH
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Hi all,
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
Apr 18, 2014, 5:21 pm
#3
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Programs: UA Plat/2MM [23-yr. 1K, now emeritus] clawing way back to WN-A List; MR LT Titanium; HY Whateverist.
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artloversplus, welcome to FlyerTalk!
Your friend should also check the laws of the country he is leaving to learn if he'll need to also declare that sum of cash to the exiting country's officials.
Your friend should also check the laws of the country he is leaving to learn if he'll need to also declare that sum of cash to the exiting country's officials.
Apr 18, 2014, 8:32 pm
#6
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Hi all,
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
With respect to your "wealthy foreign friend", if he has that much cash or liquid assets to bring into the US, why is relying on you to make an inquiry on an anonymous Internet forum? Why would he not make an inquiry via his bank or wealth management advisor?
Apr 18, 2014, 9:14 pm
#8
Join Date: May 2013
Location: Austin, TX
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Posts: 715
He's going to get flagged. People who move that amount of cash between countries. is because they don't want it to go through the banking system for shady reasons.
I'm not saying your friend has procured the money in a questionable way, but it's usually people who have got the money in non very legal ways the ones that carry half a million dollars in cash and that will raise a red flag.
As suggested, if your friend has that kind of cash, I'm sure his/her wealth/financial manager can provide better info than an Internet forum.
I'm not saying your friend has procured the money in a questionable way, but it's usually people who have got the money in non very legal ways the ones that carry half a million dollars in cash and that will raise a red flag.
As suggested, if your friend has that kind of cash, I'm sure his/her wealth/financial manager can provide better info than an Internet forum.
Apr 18, 2014, 9:18 pm
#9
Join Date: Oct 2007
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He will need to fill out and file a FinCEN105 form in addition to the regular declaration form. To save time I suggest having the FINcen105 complete ahead of time.
Travellers Checks are negotiable instruments and must be declared and on the 105 also:
https://help.cbp.gov/app/answers/det...3D/suggested/1
Wiring the money would still be reportable due to the Bank Secrecy Act and a FinCEN8300 could also be needed depending on source.
There are times where people need to travel with large sums of cash for legit business both into and out of the USA, though I'll admit out of the USA is more common than in. I have cared well over 10k$US in cash out of hte USA before. Filing the form is not that difficult.
form 105 is at the bottom of this page:
http://www.fincen.gov/forms/bsa_forms/
Travellers Checks are negotiable instruments and must be declared and on the 105 also:
https://help.cbp.gov/app/answers/det...3D/suggested/1
Wiring the money would still be reportable due to the Bank Secrecy Act and a FinCEN8300 could also be needed depending on source.
There are times where people need to travel with large sums of cash for legit business both into and out of the USA, though I'll admit out of the USA is more common than in. I have cared well over 10k$US in cash out of hte USA before. Filing the form is not that difficult.
form 105 is at the bottom of this page:
http://www.fincen.gov/forms/bsa_forms/
Apr 18, 2014, 11:56 pm
#10
Join Date: Apr 2011
Location: SMF
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Hi all,
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
I am new here.
I have a wealthy foreign friend who is not US citizen who intended to travel into US with $600,000 in Cash or Traveler's Check. Obviously, he will declare to the fullest and he had a legitimate reason to do so.
Question is, other than declaration, will he need to explain any thing to the custom the source and the use of the fund? If so what line of questions the custom may ask?
Last edited by mike2200; Apr 19, 2014 at 9:44 am
Apr 19, 2014, 7:36 am
#12
Join Date: Oct 2007
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The OP did not ask about smuggling money; he asked about how to be legit and declare it. Why is it so hard for some on this site to just answer a question and move on?
Apr 19, 2014, 7:59 am
#13
Join Date: May 2004
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While I agree that there is no need to talk about smuggling, I do think it is appropriate to suggest relevant legal/financial advice from a qualified professional. This is a very large some of money and it is unwise to rely solely on the advice of an internet forum.
Apr 19, 2014, 8:08 am
#14
Join Date: Oct 2007
Location: Catania, Sicily/South Jersey (PHL)/Houston, Texas/Red Stick/airborne in-between
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Posts: 3,541
While I agree that there is no need to talk about smuggling, I do think it is appropriate to suggest relevant legal/financial advice from a qualified professional. This is a very large some of money and it is unwise to rely solely on the advice of an internet forum.
Even the feckless TSA often has the false idea you must report 10k domestically in the USA-which one must not do. There is no rule on carrying any cash in the USA.
Cash does not always equal crime.
Apr 19, 2014, 10:08 am
#15
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This is quite correct.
If you choose to bundle up your savings in a pillow case and bring it with you on the plane, congratulations, this is America and you shouldn't be hassled by bureaucratic, educationally subnormal morons.
If you choose to bundle up your savings in a pillow case and bring it with you on the plane, congratulations, this is America and you shouldn't be hassled by bureaucratic, educationally subnormal morons.