There is no limit to how much cash you may take when leaving the country. However, if you take more than $10,000 in (i) cash, (ii) traveler’s checks, (iii) checks that have not been made out to a specific person or (iv) money orders across the border at one time, he or she must fill out a form called “Report of International Transportation of Currency or Monetary Instruments”or FinCEN Form 105. This form may be obtained from a customs officer at the point of departure from the U.S. or online at FinCEN Form 105 | CMIR, U.S. Customs and Border Protection. If you do not make this declaration, the currency may be seized.
You do not need to report checks or money orders made payable to you if they have not been endorsed or do not include any restrictive endorsements. Although these checks are not required to be reported, you should consider reporting the checks to avoid any delays in crossing the border.
Is There a Cost to Filing This Form?
No. There is no cost for filing FinCen Form 105. The form may be obtained for free from the customs officers or customs website.
Is There a Duty or Tax on the Money Reported?
No. Customs does not charge taxes on cash or things like cash that must be reported in FinCEN Form 105.
What May Happen if the Cash or Money is Not Reported or Not Properly Reported?
If you do not report amounts greater than $10,000, then customs may seize the money. If the money is seized by customs, there is a risk that the money will not be returned to you. In some cases, especially if there is related criminal activity, there may be criminal penalties for failing to report the money.