Declare 10,000 CAD $ in CASH only or all Funds?

[ramzy2277]

Hi all,

I am bit confused about the declaration of money above 10,000 CAD $,does this declaration intended for CASH MONEY ONLY or all financial funds I am carrying as I will be carrying 6000 CAD $ cash and 11000 CAD $ in draft cheque ,so do I have to fill the declaration form e667 or not.

 

[phdmaker]

I'm also looking for answer of the same :-X

 

[jotgrewal]

Hi all,

I am bit confused about the declaration of money above 10,000 CAD $,does this declaration intended for CASH MONEY ONLY or all financial funds I am carrying as I will be carrying 6000 CAD $ cash and 11000 CAD $ in draft cheque ,so do I have to fill the declaration form e667 or not.

Instructions for form E667
Reporting Requirement
The Act requires every person or entity the obligation to report to a Border Services
Officer for the importation or exportation of currency or monetary instruments of a
value equal to or greater than $10,000 Canadian (or its equivalent in a foreign
currency).
Failure to report may result in the forfeiture of currency or monetary instruments or
the assessment of a penalty.
Definitions
“Currency” means current coins and bank notes issued by the Bank of Canada and
coins and banks notes in the currency of countries other than Canada.
“Monetary Instruments” means (a) securities, including stocks, bonds, debentures
and treasury bills, in bearer form or in such other form as title to them passes upon
delivery; and (b) negotiable instruments in bearer form, including banker's drafts,
cheques, traveller's cheques and money orders, other than
(i) warehouse receipts or bills of lading, and
(ii) negotiable instruments that bear restrictive endorsements or a stamp for the
purposes of clearing or are made payable to a named person and have not been
endorsed.


In short, you need to report both cash and drafts

 

[wilson]

I'm also looking for answer of the same :-X

Total funds including cash and negotiable instruments in any form. Please note it is only for CBSA's record and there will not be any questioning and will not taxable. It should be acquired from proper source.

 

[phdmaker]

Total funds including cash and negotiable instruments in any form. Please note it is only for CBSA's record and there will not be any questioning and will not taxable. It should be acquired from proper source.

But will it impact OSAP financing for education?

 

[mitali]

But will it impact OSAP financing for education?

OSAP generally knows the minimum amount that a new immigrant brings along. OSAP gives a fixed 30% off on tuition...so the amt you bring in will not impact that percentage.

Mitali