Exiting US with more than 10,000 US dollars
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Author Topic: Exiting US with more than 10,000 US dollars  (Read 2532 times)
reydon123
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« on: February 24, 2010, 02:58:12 am »

Hi to all.

Me and my partner will be landing soon in Canada exiting from US. We have with us approximately $ 18,000 US dollars cash to take to Canada as our funds.  I know it is mandatory to declare to US customs if one is carrying more than $ 10,000 dollars.
Since I am exiting with my partner, is it fine to divide the total amount to both of us...making $ 9,000 for myself and my partner so that we dont have to declare anything to US customs?


Kindly enlighten me on this. Thank you much.
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nasj
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« Reply #1 on: February 24, 2010, 04:15:10 am »

Well you are using  foolish and risky method to take your money out of USA. US Customs agents regularly check and ask Peoples the amount of cash are carrying out of the States and some time they search if they become suspicious. Even if you and your partner divided the sum between you to less than $10,000 you still consider as  one person especially if you filled you taxes jointly.
Why you don't go to your bank and get a Certify Check for the whole Sum, and deposited in any Canadian Bank it will be treat it as cash.
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nasj
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« Reply #2 on: February 24, 2010, 04:19:17 am »

Oh in addition you are going to declare the sum again to Canadian Customs Agent since you are carrying more than $10,000 to Canada.
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commonwealth
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« Reply #3 on: February 24, 2010, 09:07:39 pm »

Look into travelers check.
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sogwap
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« Reply #4 on: February 24, 2010, 09:53:43 pm »

Is it how much you have in the bank or how much cash you are carrying?

Why not put it in a US or Canadian bank. Then do the transfer after you arrive.
I have a US and Canadian bank account. I've never carried more than several hundred dollars across the boarder. But have had more then $10K in the bank.

Beware however they may hold your funds until it is cleared. Shortly after I arrived I received a large USD check, opened a Canadian bank account and deposited the check. The funds were held for 45 days! I was shocked. I talked with the (Canadian) bank manager and released several thousand dollars. The rest was held 45 days. I still have the US bank account, and use both accounts depending on what I need at the time.
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