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Declaring over $10,000

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Declaring over $10,000

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Old Dec 17, 2012 | 2:38 am
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Originally Posted by FlyingDiver
The declaration is only for cash (and maybe negotiable instruments). Pre-paid credit cards, which I think you're talking about, would not apply. So no, nothing to declare.
Cash/coins of currently in circulation currency, travelers checks, money orders, other negotiable financial instruments, financial instruments in bearer form.

Not yet prepaid debit cards, but they are being considered along with a variety of gift cards as instruments that can be used to launder money (and I don't mean than in terms of washing machines/buckets that launder clothes and bed linens).
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Old Dec 17, 2012 | 2:42 am
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Originally Posted by GetSetJetSet
I'm trying to wrap my head around when it would be necessary to enter a country with $10,000 in hard cash unless you're conducting shady dealings.
Have you ever had to do legitimate business, personal or family business, in places with limited banking facilities where daily ATM withdrawal/withdrawal limits are problematic in helping to meet timely payment of legitimate goods or services from individuals or businesses that don't have or don't like merchant banking relationships or need the money sooner than later? Apparently not. Use of cash -- even large volumes of cash -- is legitimate and often even expected by a variety of legitimate business or personal counterparties.
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Old Dec 17, 2012 | 5:28 am
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let's use a very real example. i mANUFACtured photo frames. in my product, iused real italian molding. most of it was purchased in italy at an annual trade show in blq. italy in a notorous tax evasion country. production was limited, and if i wanted to see product in 3 months, i paid cash. a small container carried 100000meters of moulding, a large container, 200000 meters of my product. at a buck a meter, this is not atm machine payments. i got AMEX TC's from AAA for free. they had on denomination larger than $100. my wife and i would spend an evening signing the things.
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Old Dec 17, 2012 | 5:38 am
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re depositinjg to a us bank was also a task.each had to be countersigned and us banks go crazy at over 10k deposits.
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Old Dec 17, 2012 | 10:08 pm
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Originally Posted by slawecki
i carried much more than 10k back and forth. i thought it necessary. are you accusing me of being dishonest. take a time out

to many, ten grand is not a whole lot of money.
I'm not accusing anyone of anything, I just don't get the rationale. Unless you're going to Burma or someplace with no ATM's or ability to use credit cards, why would you want to carry cash? Also...as we know, you earn no miles when you pay cash haha.
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Old Dec 17, 2012 | 11:19 pm
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Some of the info in this thread is absolutely incorrect. You do have to declare the export of cash or certain cash equivalents of 10k or more when leaving the country, as well as returning. The requirement to make the declaration has nothing to do with whether there is a checkpoint or not. See the instructions regarding Fincen form 105. Failure to do so could result in forfeiture and criminal penalties.
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Old Dec 18, 2012 | 5:31 am
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For the EU you have to amounts over 10.000€ cash or cash equivalency if you leave or enter the EU.

The necessary declaration from can be found here
EU Customs Cash Declaration Form

So for example if you fly from Germany to the US with silver coins worth over 10.000€ (about 13.000US$) you have to declare them when you leave Germany and when you enter the US.
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Old Dec 26, 2012 | 1:41 pm
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Originally Posted by GetSetJetSet
I'm trying to wrap my head around when it would be necessary to enter a country with $10,000 in hard cash unless you're conducting shady dealings.
My company in Chile (a Big Four firm, if you can believe it) issues company credit cards to Partners only. When I travel for extended periods, I have to take out a cash advance from the company and thus fund my trip. It's a nightmare for hotels, but I've never had a problem getting into the US once I explain the reason for so much green.
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Old Dec 26, 2012 | 2:58 pm
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Originally Posted by GetSetJetSet
I'm not accusing anyone of anything, I just don't get the rationale. Unless you're going to Burma or someplace with no ATM's or ability to use credit cards, why would you want to carry cash? Also...as we know, you earn no miles when you pay cash haha.
I like a punt, so flying to Vegas or heading on a cruise cash was good ( or coming back from these locations winning). LOC are one way to do it but if you win what to do?
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Old Dec 26, 2012 | 6:39 pm
  #25  
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Originally Posted by GetSetJetSet
I'm not accusing anyone of anything, I just don't get the rationale. Unless you're going to Burma or someplace with no ATM's or ability to use credit cards, why would you want to carry cash? Also...as we know, you earn no miles when you pay cash haha.
exactly how does one get $50,000US out of an atm machine? how does one charge 50 grand on a credit card? i sometimes jumble things up. i think i was quite clear on the need for the money, and i know of no other form of guaranteed cash in a foreign transaction. in the world of buying automobiles at auction, one uses a "sight draft'. that is guaranteed cash. one cannot buy half a dozen fresh MB's and a porsche or two and put them on a credit card, even in usa.

there were a couple of us companies i bought from that demanded credit card. i am certain they paid over 2% to get paid by my card. sometimes i had to use 2 cards, because i had a max 25k limit on my biggest card. these guys were paying $1000 to hit my card, and i was getting 40k miles.(and 30 day terms)

Last edited by slawecki; Dec 26, 2012 at 6:45 pm
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Old Dec 27, 2012 | 9:08 am
  #26  
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Originally Posted by caspritz78
For the EU you have to amounts over 10.000€ cash or cash equivalency if you leave or enter the EU.

The necessary declaration from can be found here
EU Customs Cash Declaration Form

So for example if you fly from Germany to the US with silver coins worth over 10.000€ (about 13.000US$) you have to declare them when you leave Germany and when you enter the US.
Declare them to Germany when you leave Germany with proof and other numismatic (collectible) plat/gold/silver/copper coins? Given that they trade at prices largely determined by their rarity, condition and aesthetic value, it seems strange that Germany would have an export control on that but not on jewellery of even much greater value than 10,000 EUR.

Most major jurisdictions of relevance to me treat, for the purposes of export or import declaration, precious metal bullion/coins/jewellery as distinct from currency (cash or coin) in circulation.
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