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Posted

Dears,

I got my IR-1 immigrant visa, and going to travel very soon.

I'll sell somethings here and take all the money with me

My question is what is the max value of money can I take with me without making problems in the airport.

Then, If I put most of them in any bank, will they take taxes on it?

Please advise

Thank you in advance

Filed: IR-1/CR-1 Visa Country: Kosova
Timeline
Posted

I think anything above 10,000 dollars (combination of cash and personal belongings) should be claimed. Technically.

Dears,

I got my IR-1 immigrant visa, and going to travel very soon.

I'll sell somethings here and take all the money with me

My question is what is the max value of money can I take with me without making problems in the airport.

Then, If I put most of them in any bank, will they take taxes on it?

Please advise

Thank you in advance

Posted

when my mom went to US last year she brought $10,000 cash. I think that is the maximum. I hope that helps. :blush:

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Filed: Timeline
Posted

You can bring as much as you want. You must declare if you are bringing more than $10,000 into the US on the Customs Declaration form (this will be passed out before the plane lands).

Bringing a large amount of money from Egypt can be a problem. You may need to prove that is your money and it's not tied to terrorism.

It may be wise to set up a US bank account and have the money wired into it.

There is no tax on the money you bring in.

Filed: Other Timeline
Posted

I would not take more than I could put in my carry-on baggage. If you only take $100 bills, I'd say about 50,000,000.00 is the max. Don't leave it unattended when going to the bathroom!

There is no room in this country for hyphenated Americanism. When I refer to hyphenated Americans, I do not refer to naturalized Americans. Some of the very best Americans I have ever known were naturalized Americans, Americans born abroad. But a hyphenated American is not an American at all . . . . The one absolutely certain way of bringing this nation to ruin, of preventing all possibility of its continuing to be a nation at all, would be to permit it to become a tangle of squabbling nationalities, an intricate knot of German-Americans, Irish-Americans, English-Americans, French-Americans, Scandinavian-Americans or Italian-Americans, each preserving its separate nationality, each at heart feeling more sympathy with Europeans of that nationality, than with the other citizens of the American Republic . . . . There is no such thing as a hyphenated American who is a good American. The only man who is a good American is the man who is an American and nothing else.

President Teddy Roosevelt on Columbus Day 1915

Filed: IR-1/CR-1 Visa Country: China
Timeline
Posted (edited)

you have to declare over 10,000 usd on the customs form.

and that's it.

You won't be taxed on it.

Once you put it in the bank, if any interest is earned on it over a year's time, that INTEREST INCOME (not the principal deposit) is taxable, you'll report it as taxable interest income on an IRS form, but it's income from the interest, not the principal.

Edited by Darnell

Sometimes my language usage seems confusing - please feel free to 'read it twice', just in case !
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Posted

thanks everybody,

but what are the risk of declaring them to customs? does it make troubles, more checks, or what wrong can be happened?

I prefer the bank idea, but i didn't go yet, so how can I make the bank account?

one more solution is western union or any similar service. what about them?

thank you in advance

Posted

There are no risks in declaring it to Customs. There ARE risks in NOT declaring it to Customs.

Moving from Travel forum to New Life in America.

Yes, there are risks in declaring it to Customs

Best deal is to keep it in a bank account and wire the money when and if needed to USA.

youregonnalovemynutsf.jpg

"He always start the fire here in VJ thread and I believe all people will agree with me about it"

Posted

What, in your opinion, are the risks?

Being reported to IRS or being reported to your home country

Like in USA when you cash a check for money, If it's over $10K then you must fill out a IRS COmpliance Form.

Better to keep your personal information to yourself........

youregonnalovemynutsf.jpg

"He always start the fire here in VJ thread and I believe all people will agree with me about it"

Filed: Timeline
Posted

Being reported to IRS or being reported to your home country

Like in USA when you cash a check for money, If it's over $10K then you must fill out a IRS COmpliance Form.

Better to keep your personal information to yourself........

It's being reported by the banks: CBP FAQ - Electronic Transfers and Wiring

The only time you would fear being "reported" is if you are doing something unlawful.

iagree.gif
Filed: Citizen (apr) Country: Nigeria
Timeline
Posted

In an effort to make "bad" money harder to pass around they put a limit on how big a transfer can go unreported. They picked 10 thousand dollars. So if you do anything that involves moving more than 10k in a single action it gets flagged. As long as you can show / explain how you got the money and where it is going is fine. Honest people decalre the money , the other hide it in their bags and then if they find it the chances of having it take are pretty good.

This will not be over quickly. You will not enjoy this.

 
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