CURRENCY REPORTING AT THE BORDER
It is legal to transport more than $10,000 in currency or qualifying monetary instruments into or out of the United States. The problem is failure to report an aggregate amount exceeding $10,000 as required by federal law. Failure to report or providing false information can result in seizure, forfeiture, civil penalties or criminal consequences.
Current CBP guidance expressly states that it is legal to transport any amount of currency or other monetary instruments into or out of the United States.
The federal requirement is reporting, not a prohibition on possessing more than $10,000.
When a traveler enters or leaves the United States carrying qualifying currency or monetary instruments in an aggregate amount exceeding $10,000, the amount must be reported to CBP using FinCEN Form 105.
CBP states that qualifying monetary instruments can include U.S. or foreign currency, traveler’s checks and certain negotiable or bearer instruments.
Current CBP guidance states that where families or groups are involved, the reporting threshold applies to the total qualifying amount being carried or sent collectively rather than simply treating each person as having a separate $10,000 allowance.
CBP states that failure to file the required report, or submitting false or fraudulent information, can result in seizure and forfeiture of the currency or monetary instruments.
Civil penalties or criminal prosecution may also arise depending on the facts.
The fact that CBP seized currency does not by itself establish a particular immigration ground of inadmissibility.
The immigration consequences depend on the surrounding facts, including any alleged false statements, criminal investigation, conviction or other conduct.
CBP describes FinCEN Form 105 as a reporting requirement. Reporting the currency does not itself impose a duty or fee simply because the traveler carries more than $10,000.
No. CBP states that there is no limit on how much qualifying currency may be transported, but amounts exceeding $10,000 must be reported.
Yes. Failure to file the required report or providing false information can result in seizure and forfeiture as well as potential civil or criminal penalties.
Current CBP public guidance describes the federal reporting threshold as amounts exceeding $10,000.
These government materials provide the principal CBP customs, agriculture and declaration rules discussed on this page.
The reporting issue, source of funds, statements made during inspection and any criminal investigation should be analyzed separately.