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To whom do you declare you are taking more than US$10,000 out of the US?

To whom do you declare you are taking more than US$10,000 out of the US?

Old Apr 10, 2008, 10:28 am
  #46  
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Originally Posted by Taker Park
Structuring, very nice.
How is that structuring?
He got rid of the negotiable instruments in excess of $10,000 before entering the US.
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Old Apr 10, 2008, 10:33 am
  #47  
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Originally Posted by peachfront
I've complained about this issue before. It's pretty straightforward and someone is always there so that you can report when returning to the United States, but they make it very difficult to properly report when exiting the United States. Since the requirement is to report coming and going, I wish Customs would make it a little easier for honest people to comply in both directions. We shouldn't have to run about like rats in a maze just to drop off THEIR paperwork.
Make two copies, have the actual GA sign and date/timestamp both seperately as her proof of receipt in case something gets misplaced.

When dealing with gov't types, can never have enough backup and documentation.
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Old Apr 10, 2008, 10:38 am
  #48  
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Originally Posted by civicmon
Migrant/immigrant workers who have family that don't pay in a plastic world is a very common scenario as to why people carry over $10,000.
Also it is only recently that some few privileged Chinese can get credit cards. But there are a heck of a lot of wealthy Chinese nowadays. Not all of them have credit cards. In fact, I would guess only a few do. But a lot of them love to gamble and they are the reason all the new casinos have popped up in Macao. Some of them might like to try Vegas too.

I know Korean Air flies non-stop to Vegas. Do any Chinese airlines fly there non-stop now?
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Old Apr 10, 2008, 10:50 am
  #49  
 
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Originally Posted by thegeneral
"US$ Travelers Checks will be perfectly fine for this reason. "

The amount is also tied not tied to the rate of inflation. In another 10 or 15 years, it will start to be bothersome to more people. It's surprising that the tin foil hat wearers in the security forum aren't making 1000 posts on this every day given that the government is trying to control the movement of people and their money.
It will be sooner that 10~15 years. It will be 4~5 years if nothing change. In Europe they have limit 10 000Euro, that about 16 000$.
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Old Apr 10, 2008, 2:00 pm
  #50  
 
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Originally Posted by soitgoes
How is that structuring?
He got rid of the negotiable instruments in excess of $10,000 before entering the US.
Deliberately bringing/taking just under $10,000 in order to avoid reporting is just as punishable.
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Old Apr 10, 2008, 5:24 pm
  #51  
 
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Originally Posted by slawecki
unless he is carrying euros, i don't think that fits in one roller bag. euros can take up 85% less space, and should fit.

That should easily fit. A bundle of 100x$100 bills is roughly 2.5"x6"x0.5".

It would take 135 of those bundles to be $1.35MM. That's a bit over 1000 cubic inches. That's (roughly) a pile 12" wide, 10" long (8 bundles per layer) and 8" high. Would fit into any rollaboard with lots of room to spare.
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Old Apr 10, 2008, 6:15 pm
  #52  
 
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Originally Posted by Taker Park
Deliberately bringing/taking just under $10,000 in order to avoid reporting is just as punishable.
You Couldv'e Split it with your Spouse.... 6k each. Under the limit.
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Old Apr 10, 2008, 6:35 pm
  #53  
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Originally Posted by stimpy
I know Korean Air flies non-stop to Vegas. Do any Chinese airlines fly there non-stop now?
Unfortunately, no. (She's got relatives there, twice a year we do LAS-PVG.)
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Old Apr 10, 2008, 7:11 pm
  #54  
 
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Originally Posted by jayflyer
You Couldv'e Split it with your Spouse.... 6k each. Under the limit.
Still applicable when split between spouses and family members. That would still require filing the FINCEN.
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Old Apr 10, 2008, 7:25 pm
  #55  
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Originally Posted by Yaatri
How would you know? The first time I ever thought it might be an issue was on the jetway in DTW when I was on my way to London on business. I was approached by some LEOs who flashed their badge at me and asked me where I was going, why and that kind of silly stuff. During questioning, they asked me how much money I was carrying. I said "It's none of your business". Then they asked me if I was carrying more than $10,000. I answered "No", as I wasn't. But even they didn't tell me what I would have had to do if I had more than $10,000.
are you sure they were simply LEOs , as when I have seen them (stopped and asked only 1 time), this was always being done by The Feds=Customs. Consider yourself lucky that they didnt pull you aside and go over you and what you had with a fine tooth comb, can then inform you that unfortunately your flight left.

Its 1 thing to play with the LEOs but The Feds are a different thing , remember we arent talking about TSA, The Feds can do alot more then any LEO IMO.

there might have been an LEO standiing by, but no real need as the Feds handle things their way.

I have a mouth but when it comes to The Feds, it stays shut with no wiseguy answers.
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Old Apr 10, 2008, 7:31 pm
  #56  
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I always believed that it was $10,000 in Negotiable Instruments, true Cash is the #1 but there are many other types and the 10K limit is all of them combined
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Old Apr 10, 2008, 9:23 pm
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Originally Posted by craz
I always believed that it was $10,000 in Negotiable Instruments, true Cash is the #1 but there are many other types and the 10K limit is all of them combined
Exactly! It is not only CASH, it's MONEY over $10k that the law prescribes. Want to be a criminal? Just take out your checkbook (for an account that has >$10k), write $10k, sign your name, cross the border, not report it, and you've broken the law!

I can't see how bringing $9,975 is "just as punishable"!
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Old Apr 10, 2008, 9:40 pm
  #58  
 
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Originally Posted by Taker Park
Deliberately bringing/taking just under $10,000 in order to avoid reporting is just as punishable.
Whatever
So I suppose if I make 100 trips a year across the border and take $100 each time, eventually you'll tell me that's not legal either because I've structured it that way?

I echo a previous poster's comment--it was nice living in a free country, while it lasted.
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Old Apr 10, 2008, 11:20 pm
  #59  
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Originally Posted by Taker Park
Still applicable when split between spouses and family members. That would still require filing the FINCEN.
Huh? Each person is under the limit, where's the rule broken?
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Old Apr 10, 2008, 11:20 pm
  #60  
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Originally Posted by craz
I always believed that it was $10,000 in Negotiable Instruments, true Cash is the #1 but there are many other types and the 10K limit is all of them combined
Yeah, anything that can't be traced--stuff a money launderer would use.
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