How to enter or re-entering the US with a large amount of cash

How to enter or re-entering the US with a large amount of cash

https://ift.tt/1RfwK1f This is not legal advice. The government is too unpredictable for that. Rather these are two true stories involving clients of ours. If you ever traveled into the US, you may be very leery about having a so called large amount of cash with you. You may know that if you have $10,000 or more with you, you could have a serious problem entering the US. But still - is it possible to fly into a US airport with millions of dollars in cash and totally get away with it? George had $2 million dollars in a Swiss bank account. He knew the government was cracking down on undeclared bank accounts abroad so as soon as he could he withdrew all of his money in cash and placed it in a safety deposit box in a Swiss bank. Now George did come clean with the IRS, as we entered him into a disclosure program. But his cash - he really wanted his cash to live on in the states. He looked into how to get his money from Switzerland and found that there were bonded couriers that would do the deed for him. But they charge a 5% commission!  George really isn’t the kind of guy to hand over $100,000 as a fee to a total stranger. So he had me look into it. So I researched the issue the best I could and determined to the best of my knowledge that it is 100% legal to bring in huge amounts of cash as long as FinCEN form 105 is properly filled out. Or so I hoped .  So that’s what we did — I filled out the form and drafted a cover letter for George to hand to customs when he arrived at JFK. So George and his son traveled to Zurich. Packed $2 million dollars in cash into two duffle bags. He and his son walked to the airport in Zurich and hopped on a flight back to JFK.  Watch the entire video to find out what happened to George. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 info@irsmedic.com https://youtu.be/mLIPQuFlOaM IRS Medic