The holidays are approaching… Do you intend to carry “monetary instruments” when traveling internationally? Read on, these TOP 5 Tips when carrying “monetary instruments” above $10,000 can save you a U.S. Customs Seizure Case.
Here are your top tips to assure you get it right, and you’re not screaming U.S. Customs Seized my Money, Oh No!
1. If you intend to carry over $10,000 in monetary instruments, including travelers checks and U.S. or foreign money, you MUST fill out the required form, FINCEN Form 105. Note, it is PERFECTLY acceptable to travel with currency, you JUST have to report it. Don’t be scared to do so.
2. Review U.S. Customs and Border Protection’s “Currency Reporting” flyer. Make sure you memorize what “monetary instruments” consist of:
- U.S. or foreign coins and currency;
- Travelers checks (in any form);
- Negotiable Instruments (including checks, promissory notes, and money orders – in a transferable form);
- Incomplete instruments (checks, promissory notes, and money orders) that are signed with a payees name omitted;
- Securities or stock in bearer form (in a transferable form)
3. Make sure you can explain proof of the legitimate source of the money.
4. Make sure you can explain proof of the legitimate intended use of the money.
5. Don’t divide currency for the purpose of evading reporting requirements.