What happens if you take out $10k and travel with it?

[rvoitier]

What actually happens? Is it a matter of just filling out forms or seizure of your money?

[rvoitier]

Hypothetical here:

I want to travel abroad and take (or even have transferred) well over the limit of $10,000 cash allowed by gov't regulations. Does anyone know what happens after that?

Is it just a matter of declaring it and filling out forms to notify Uncle Sam or are your assets seized or are you arrested?

Sorry for such a simplistic example but I wanted to elicit responses. Thanks.

Signed,
Curious

[rabscuttle385]

Make sure to properly declare it on the way out of the U.S. and on the way in to whatever other country you’re visiting. You could also consider using a wire transfer.

[1rudeboy]

I would be more worried about whether there are any restrictions at the destination country.

It makes no sense to remove $10K+ from U.S.A. legally (meaning that you declare it on the form), only to have it confiscated when you get of your plane/ship.

[nufsed]

debit and credit card

[rabscuttle385]

The Money, Banking, and Financial Markets Ping List. "Money, not morality, is the principle commerce of civilized nations." —Thomas Jefferson FR Keywords: moneylist, bankinglist, financelist Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. Ping list jointly pinged by rabscuttle385 and TigerLikesRooster. To join the ping list: FReepmail rabscuttle385 with the subject line add  moneylist. (Stop getting pings by sending the subject line drop moneylist.)

[Just another Joe]

You can have over $10K wire transferred to another bank account outside the USA.

Be prepared to answer questions though. Even questions from your bank executives.

[MrB]

I’m wondering if this person really wants to get his money out of the USSA before it gets confiscated...

I’m compiling a list of folks interested in tax reduction (starve the evil beast) strategies. When I get enough interest, I’ll post a vanity and invite comments, criticisms, and corrections.

Let me know.

[timsbella]

The limit is in place because of drug trafficking and money laundering. Better to wire the money. In practice, anyone carrying cash over a few thousand is going to get pulled aside by customs. Why put yourself at risk? It’s not like travellers cheques that can be insured and replaced.

[Homer1]

Even if you travel in the US with that amount of cash, Federal Authorities can sieze it, at will. Land of the free.

[anniegetyourgun]

I would suggest taking just under $10K ($9,500) and dividing it among your party. They should carry it on their person in a belt/sleeve. Assign one person to be the group accountant - signing cash in and out on a paper log.

Anything more than that should be wired.

[Vaquero]

Don't leave home without it.

[thefrankbaum]

Add me to that list please. Something I’m seriously considering, and could use some guidance.

[coloradan]

Free = no cost = no money. Right?

[truthluva]

Please add me to your list of those interested in seeing your tax reduction ideas.

[LTCJ]

Please add me to your ping list.

[ScottinVA]

Craft up a muddled, rambling letter to some Nigerians and ask for a bank account # to park the money in. That’ll be a switch!

[Scutter]

Please add me to your list.

[WorkerbeeCitizen]

bump

[expatpat]

$9500 and similar sums are viewed as very suspicious by the authorities. Wire it.

[Rum Tum Tugger]

Glad you asked. I'm in the business of helping people just like you.

Basically, all you have to do is send your money to me, and I'll have it waiting for you when you get off the plane in whatever destinations you choose.

Send an email to RumTumTugger@DeweyCheatemandHowe.com for the details.