Clearing Customs with Cash

[mosch]

I know that when crossing borders, certain amounts of cash need to be declared ( > $10k in or out of the US, > €7,600 in or out of the EU), but what actually happens if you exceed these?

I'm going on a bit of a gambling excursion, and I'd like to avoid the hassle of setting up a foreign account, or of wiring money around, but I don't want to set myself up for a TSA/Customs-based Bad Beat.

[guids]

Travelers checks...

[kipin]

If customs catches you with undeclared money (Over the $10,000 amount), they can AND will confiscate it without any due process.

[Lloyd]

[ QUOTE ]
Travelers checks...

[/ QUOTE ]

From the U.S. Customs website:

[ QUOTE ]
You may bring into or take out of the country, including by mail, as much money as you wish. However, if it is more than $10,000, you will need to report it to CBP. Ask the CBP officer for the Currency Reporting Form (FinCen 105). The penalties for non-compliance can be severe.

“Money” means monetary instruments and includes U.S. or foreign coins currently in circulation, currency, traveler’s checks in any form, money orders, and negotiable instruments or investment securities in bearer form.

[/ QUOTE ]

It's not illegal to carry a lot of cash across the border. You just have to declare it. Now, if you don't want to declare for some reason . . .

[guids]

Also, biolage conditioner, use most of it, wrap the cash up in saran wrap, put some conditioner back in, and go, works for drugs too.

[Banks2334]

[ QUOTE ]
Also, biolage conditioner, use most of it, wrap the cash up in saran wrap, put some conditioner back in, and go, works for drugs too.


[/ QUOTE ]
Don't kid yourself, not a good idea for drugs.

[mosch]

[ QUOTE ]

It's not illegal to carry a lot of cash across the border. You just have to declare it. Now, if you don't want to declare for some reason . . .

[/ QUOTE ]

Thanks for the research. I don't mind declaring it, so long as the only thing that follows the declaration is some paperwork and a question or three.

However, I've never declared cash before, so I haven't the foggiest clue if they say "good luck at the tables", or if they do something horridly obnoxious, like seizing the money until I show my tax returns to a judge.

[Ray Zee]

just declare it immediately before they lead you to misdeclare. all you do is fill out the form and most times they spend alot of time counting it and listing each denomination of bills. then you go on your way. do the same on return. you can get the forms ahead of time if you want.

[mosch]

Thanks Ray. That sounds as painless as I'd hoped it would be.