Thursday, March 21, 2024

"RV UPDATE" BY SANDY INGRAM, 21 MARCH

 Sandy Ingram  

There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.  

However, there is a catch.   If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.  

This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"... What happens if you don't report more than 10 thousand dollars in cash?  Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.


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