Entering US on K1 visa and declaring over 10K

[A & Lili 1]

Hello everybody,

I was wondering if someone can shed some information on this topic. My fiancee was approved on a K1 visa and wants to bring her savings that total over 10K as she enters the US. She wants to open an account with these savings as soon as she gets the proper documents to do so. Any ideas or suggestions if this would be the best route?

[MedRoni 161]

If she is carrying over 10K when she enters the US she will need to declare it. This is from the CBP page:

Customs and Border Protection (CBP) does not collect duty on currency. However, travelers leaving or entering the U.S. are required to report negotiable monetary instruments (i.e. currency or endorsed checks) valued at $10,000 or more on a "Report of International Transportation of Currency or Monetary Instruments" form FinCEN 105.

You can obtain the form in advance and download it from hereFinCEN 105, or a CBP Officer can give it to you upon your departure or return to the U.S.

Failure to declare currency in amounts of over $10,000 can result in its seizure.

Information on the FinCEN 105 is provided to the Internal Revenue Service (IRS), and they determine whether or not the importation of monies constitutes income subject to taxation.

[belinda63 3,047]

She will need to declare it but no problem. No taxes have to be paid on it. Great way to start your new life.

[Penguin_ie 5,996]

** Moved from AOS to Moving Here forum ****

Yes, she eneds to declare it but it should not cause issues. Does she really want to carry $10'000+ in cash? A bank transfer may be safer/ less stressful.