Bringing Money to the U.S. (2024)

FAQs

Bringing Money to the U.S.? ›

Note: International travelers entering the United States must declare if they are carrying currency or monetary instruments in a combined amount over $10,000 on their Customs Declaration Form (CBP Form 6059B) and then file a FinCEN Form 105.

The requirement for bank statements or a letter from the bank is to demonstrate that you have sufficient funds in your account(s).

You may bring large sums of money with you in the form of cash, money order, or traveler's checks. There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105.

Members of a family dwelling in the same home who enter the United States on a joint or family declaration must report on their Customs Declaration Form if they carry money or monetary instruments totalling more than $10,000. Individual members carrying more than $10,000 must then complete a Members FinCEN Form 105.

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. Use the online Fincen 105 currency reporting site or ask a CBP officer for the paper copy of the Currency Reporting Form (FinCen 105).

Proof of funds usually comes in the form of a bank security or custody statement. These can be procured from your bank or the financial institution that holds your money. Bank statements are the most common document to use as POF and can typically be found online or at a bank branch.

Common types of proof of funds documents include bank statements, investment account statements, balance certificates issued by financial institutions, and letters from financial institutions confirming the availability of funds.

If you bring more than $10,000 in cash back into the United States after time spent abroad, you must declare it using U.S. Customers and Border Patrol Form 6059B and FinCEN Form 105.

The criminal consequences of failing to report cash are severe. Failing to make a report or making an inaccurate report by omitting or misstating a material fact in a report includes not only forfeiture of the money, but a fine ranging from $250,000 to $500,000 and jail time from 5 to 10 years.

Yes, there are no laws restricting the amount of cash you can travel with as long as you declare any amount over $10,000 when leaving or entering the United States.

How much cash can you keep at home legally in the US? ›

The government has no regulations on the amount of money you can legally keep in your house or even the amount of money you can legally own overall. Just, the problem with keeping so much money in one place (likely in the form of cash) — it's very vulnerable to being lost.

You need to declare it when traveling internationally

It's legal to travel with more than $10,000 in the United States and abroad. You have the right to travel with as much money as you want. However, during international travel, you need to report currency and monetary instruments in excess of $10,000.

YOU ARE ALLOWED TO CARRY AS MUCH CASH AS YOU WANT OUT OF AND INTO THE UNITED STATES. To summarize up front: no, you are not restricted to traveling with sums of $10,000 or less. In fact, you could travel with a checked bag stuffed to the brim with cash — as long as you declare the amount beforehand.

Thus, any articles imported under this section for personal use with a value of under $800 can be imported duty free, and any articles imported for personal use with a value between $800 and $1800, will be subject to a flat 4% duty rate.

Do not gift wrap items you carry or send into the United States; they may need to be unwrapped during inspection. Gifts worth up to $100 may be sent - free of duty and tax - to U.S. friends and relatives if one person does not receive more than $100 worth of gifts in one day.

The transport of any currency and/or monetary instruments (i.e. cashier's checks) over $10,000 must be reported to a CBP Officer upon arrival into or exiting the United States. Penalties can range from civil fines up to and including seizure of the currency and arrest.

Proof of Funds:

This includes funds for accommodation, meals, transportation, and other personal expenses. You may need to provide bank statements, proof of income, or other financial documents to establish your ability to support yourself during your visit.

A proof of funds letter, or POF letter, proves you have the funds to buy a home. You might need one whether you're getting a mortgage or paying for the property with cash. Many mortgage lenders allow you to provide bank statements as proof of funds. In some cases, though, you might need a formal letter.

Proof of funds usually includes bank statements and/or scholarship letters.