Yes, you can travel with $100,000.
Traveling With Large Sums of Money
While there's no limit to the amount of money you can travel with, there are specific reporting requirements when you're entering or leaving the United States with a significant sum. This is to help prevent illegal activities such as money laundering and tax evasion.
Reporting Requirements
According to Customs and Border Protection (CBP), you must report if you are traveling with more than $10,000. This is a key point for anyone planning to travel with a large amount of currency.
- Reporting Threshold: If you are traveling with more than $10,000, you must report it to a CBP officer when you enter or exit the U.S.
- No Limit on Amount: It's important to note that there is no limit to the amount of money you can travel with. The requirement is simply to report amounts exceeding $10,000.
- Form Requirement: The declaration is made using FinCEN Form 105, which is a Report of International Transportation of Currency or Monetary Instruments.
How to Declare
Here are the basic steps to report your monetary instruments:
- Obtain the Form: Obtain FinCEN Form 105 from the CBP website or a CBP officer at the port of entry or exit.
- Fill out the Form: Accurately complete the form, providing all necessary details about yourself and the money you're carrying.
- Submit the Form: Submit the completed form to a CBP officer before you leave or enter the U.S.
Consequences of Not Reporting:
Failure to declare currency above $10,000 can result in severe penalties, including the seizure of the money, fines, and potential criminal charges. Therefore, transparency and adherence to the regulations are crucial.
Key Considerations:
- Monetary Instruments: This reporting requirement applies not just to cash, but also to other monetary instruments such as traveler's checks, money orders, and cashier's checks.
- Family Groups: If a family is traveling together, the $10,000 threshold applies to the total amount they carry collectively.
Example
For instance, if you are traveling with $100,000, you will need to declare it using FinCEN Form 105 when entering or leaving the U.S. This is not a limit on how much money you can travel with, but a legal reporting requirement.
In short, you can travel with $100,000, but ensure you follow all necessary reporting guidelines with Customs and Border Protection to avoid potential issues.
