entering the USA with SO's Money

[Twitty witty]

The Twitty has about 20k she wants to take out of the CCP

she is having a real bad time getting anything done with an account at the Bank of China or BAnk of America -in Hong Kong

They don't seem to have a checking account

so although she has accounts with the bank of china there is no quarantee that she will have access to the moneys once she is in the USA

The Customs Declaration form says you answer no if you or a member of your family is carrying 10k or less currency in to the USA.

Since She is not a member of my family and I am not a member of her family then that means each of us can bring in $9,999

each

Trying to get a straight answer from the Customs service is like dealing with the GUZ

has anyone done something like this before ?

We do not want to break any laws or to lose the money

thanks

[jim_julian]

I believe that you can bring in 9999 without a US declaration. Over that there is a form to be filled out ... not necessarily a bad thing.

 

I also think there are much lower restrictions on bringing foreign currency out of China.

 

We have never really run this one to ground on CFL.

[tywy_99]

There's no big deal bringing more than 10,000 dollars through the U.S. customs. In fact, you'd be better off to delcare it than not to!

Just fill out a simple form, Report of International Transportation of Currency or Monetary Instruments (formerly CF 4790)

 

http://www.hqusareur.army.mil/OPM/Customforms.html

Edited November 24, 2005 by tywy_99 (see edit history)

[frank1538]

I agree with Ty. It's not a big deal to report the money. No real downside, and Uncle Sam will probably thank you for repatriating the greenbacks. The major obstacle may be on the Chinese side. As much as Uncle Sam likes dollars coming back in, China hates to part with the currency, so there may be some Chinese restrictions on the amounts. Most people will explore a wire transfer as an alternative when dealing with large sums of money.

Edited November 24, 2005 by frank1538 (see edit history)

[tywy_99]

Yeah, getting over 10,000 dollars through US customs is no problem.

If or when you deposit it into a bank, any single deposit over 10,000 dollars will require an IRS form of some kind to be filled out too. The bank teller or manager will explain it to you.

Like customs limits, any bank deposit under 10,000 dollars does not require the IRS form.

[Twitty witty]

Yeah, getting over 10,000 dollars through US customs is no problem.

If or when you deposit it into a bank, any single deposit over 10,000 dollars will require an IRS form of some kind to be filled out too. The bank teller or manager will explain it to you.

Like customs limits, any bank deposit under 10,000 dollars does not require the IRS form.

171402[/snapback]

She has another 20k at 2 banks that they will not let her move to the Bank of China accounts for at least 2 months and then she owns a nice apartment . I don't know what she will do with that ,i am hoping that she can give it to her parents . If she sells it that will be another money problem .

 

We will declare the moneythat will be transported on the form even though it will be less than 10 k each.

Like everything else it is better to be honest than to have any problem over something we are sure about .

thanks for the advice

[msmckee]

I've been curious. China issues gold and silver Panda "currency" just as US issues Eagles. 1 oz. silver has face value of 10 RMB. Of course the true value is more like 65 RMB. The 1 oz gold is 100 or 500 RMB face value, dpending on year. Are these coins considered monetary instruments at face value for customs purposes (both coming and going), or would they be considered trade goods, subject to duty?

Edited November 24, 2005 by msmckee (see edit history)