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#1
07-27-2005, 05:01 AM
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Customs: Declaring money being brought into the US
If you are carrying a buttload of casino chips and $500 cash, can you reply that you're carrying $500 cash when they ask you how much cash you're bringing into the country? [img]/images/graemlins/smile.gif[/img]
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#2
07-27-2005, 08:03 AM
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Re: Customs: Declaring money being brought into the US
Yes, I am pretty sure you can. Casino chips are not actually cash, but is something that can be exchanged for cash. They're worth something. If you had to declare them as cash, then you should declare you car as cash too, since it can be "exchanged" for money too, no?
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#3
07-27-2005, 08:32 AM
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Re: Customs: Declaring money being brought into the US
Ummm....I'm not sure on this, but I believe chips might be considered "monetary instruments" that have to be declared (technically). I could be totally off though....
Jeff
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#4
07-27-2005, 09:54 AM
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Re: Customs: Declaring money being brought into the US
Nothing on customs website. However if your not bringing more then 5 K don't even worry about it.
But as a note its harder for a candian with a large bank roll to cross in then a US person to cross over to Canada with a wad.
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#5
07-27-2005, 10:30 AM
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Re: Customs: Declaring money being brought into the US
[ QUOTE ]
But as a note its harder for a candian with a large bank roll to cross in then a US person to cross over to Canada with a wad. [/ QUOTE ] Considering the value of Canadian Currency (or lack thereof), you'd think the opposite would be true wouldn't you? (Big GRIN)
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#6
07-27-2005, 03:25 PM
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Re: Customs: Declaring money being brought into the US
[ QUOTE ]
However if your not bringing more then 5 K don't even worry about it. [/ QUOTE ] 10K is the cutoff.. over and above 10K, there's paperwork to fill out. Good question about the chips though.. Chances are it does count as "cash", but a definitive answer would be nice...
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#7
07-27-2005, 03:50 PM
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Re: Customs: Declaring money being brought into the US
[ QUOTE ]
[ QUOTE ] However if your not bringing more then 5 K don't even worry about it. [/ QUOTE ] 10K is the cutoff.. over and above 10K, there's paperwork to fill out. Good question about the chips though.. Chances are it does count as "cash", but a definitive answer would be nice... [/ QUOTE ] If you are bringing in more than $10K in US currency, foriegn currency equiv., or "negotiable instruments" you will have to fill out an IRS Form 4790. Chips would be considered negotiable instruments as far as I can tell.
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