Traveling to US with more than $10,000 in cash or equivalent
#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?
#2
Join Date: Jul 2013
Location: DAY/CMH
Programs: UA MileagePlus
Posts: 2,474
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?
#3
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Join Date: Oct 2001
Location: San Francisco, CA
Programs: UA Plat/2MM [23-yr. 1K, now emeritus] clawing way back to WN-A List; MR LT Titanium; HY Whateverist.
Posts: 12,396
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.
#6
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Join Date: Jun 2001
Location: DCA or IAD (originally DUB)
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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?
#8
Join Date: May 2013
Location: Austin, TX
Programs: AA ExPlat, UA Silver, Marriott Lifetime Gold
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.
#9
Join Date: Oct 2007
Location: Catania, Sicily/South Jersey (PHL)/Houston, Texas/Red Stick/airborne in-between
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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/
#10
Join Date: Apr 2011
Location: SMF
Programs: Hilton Diamond-Marriott Platinum-life
Posts: 1,015
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
#12
Join Date: Oct 2007
Location: Catania, Sicily/South Jersey (PHL)/Houston, Texas/Red Stick/airborne in-between
Programs: United Global Svs, AA PlatPro, WN RR, AZ/ITA Freccia, Hilton Diam, Bonvoy Gold, Hertz Prez, IHG
Posts: 3,541
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?
#13
Join Date: May 2004
Programs: BA blue, LH Senator, KQ (FB) gold
Posts: 8,215
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.
#14
Join Date: Oct 2007
Location: Catania, Sicily/South Jersey (PHL)/Houston, Texas/Red Stick/airborne in-between
Programs: United Global Svs, AA PlatPro, WN RR, AZ/ITA Freccia, Hilton Diam, Bonvoy Gold, Hertz Prez, IHG
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.
#15
Join Date: Apr 2004
Location: Scottsdale, AZ
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Posts: 3,886
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.