# bring cash to USA



## kengolive (May 14, 2014)

hello guys
i'm moving to USA as a permanant residence next winter and considering How can i bring my cash money to USA?
i'm curious about the taxes also. should i have a bank account in US? ok i'm abroad so i won't have a bank account until i arrive.
actually, i don't want to comeback to my country, so please advise me with a ONE-WAY approach: cashing all of my money in my country (iran) and them send it to USA and then come to USA. by the way, don't laugh but the amount of cash should be around $160000.
any idea appricated


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## mamasue (Oct 7, 2008)

As far as I know, you can bring cash into the US...but you have to declare it at customs if it's over $10,000.
You'll get asked questions about why you're transferring the cash, and what you're doing with it.

When I moved to the US, I kept my money in my UK bank, opened a bank account in the US, and transferred it over. The transfer took a few days, and didn't cost much.

Assuming you're coming over as a LPR, you can get a SS number, which most banks need, to open an account.

If my information isn't strictly correct, I'm sure somebody who knows better will come and correct me.


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## kengolive (May 14, 2014)

i cannot transfer with bank trasaction coz my country is under US sanctions, and i cannot bring more than $5000 in my pocket based on my country rules and regulations.


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## twostep (Apr 3, 2008)

You can legally import an unlimited amount of cash into the US. Anything over 10.000 has to be declared. FDIC: Bank Secrecy Act and Anti-Money Laundering

You state that your country allows up to 5.000 to be taken out of the country.

I hope you do not expect suggestions on how to break laws from posters of this forum.


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## BBCWatcher (Dec 28, 2012)

What else are you legally permitted to remove from Iran in addition to up to $5,000 in cash?


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## kengolive (May 14, 2014)

twostep said:


> You state that your country allows up to 5.000 to be taken out of the country.
> 
> I hope you do not expect suggestions on how to break laws from posters of this forum.


my goodness! i know that my english is not good enough and may sometimes mislead people but this is absolutely a bright question and i wonder why some people like "twostep" make that complicated!!!
of course i don't want to do someting illegal, and that's why i ASK for advices 
you can have a maximum of $5000 when you leaving iran from a airport. and i would never think of having my whole cash with me :| i ask for a legal way (which i believe there is, because i know people transfer millions of dollars outside iran in a legal way), i just don't know the way, that's all. but i'm affraid you didn't get my point at all. the question is in my senario: i'm leaving my country and i don't want to come back. i'll be as a legal permanent resident of US. so how should i manage to trasfer my money at the same time i arrive in US. because i cannot go US and go to a bank and open an account and then comevback to iran and transfer money to that account. i think it's almost clear now with extra comments


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## kengolive (May 14, 2014)

BBCWatcher said:


> What else are you legally permitted to remove from Iran in addition to up to $5,000 in cash?


anything regular as any country costums, i mean, personal things, of course you cannot have a bunch of gold or any other precious materials.


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## twostep (Apr 3, 2008)

kengolive said:


> my goodness! i know that my english is not good enough and may sometimes mislead people but this is absolutely a bright question and i wonder why some people like "twostep" make that complicated!!!
> of course i don't want to do someting illegal, and that's why i ASK for advices
> you can have a maximum of $5000 when you leaving iran from a airport. and i would never think of having my whole cash with me :| i ask for a legal way (which i believe there is, because i know people transfer millions of dollars outside iran in a legal way), i just don't know the way, that's all. but i'm affraid you didn't get my point at all. the question is in my senario: i'm leaving my country and i don't want to come back. i'll be as a legal permanent resident of US. so how should i manage to trasfer my money at the same time i arrive in US. because i cannot go US and go to a bank and open an account and then comevback to iran and transfer money to that account. i think it's almost clear now with extra comments


People like TwoStep make things complicated because of what you post.

According to the information you gave you can leave Iran with 5.000 cash. I am sure your bank will be able to advise you about other monetary instruments are available to you.


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## Bevdeforges (Nov 16, 2007)

Are you able to transfer your funds out of Iran - to a "neutral" country from which you could later transfer to the US? (Switzerland leaps to mind, but that may or may not be the best plan just now.)

It could depend on what kind of a visa you're going to the US, but bring some money with you to open a bank account (say, $1000) and then once you've done that, talk to your bank to see how to proceed with the rest. Given that you are transferring money as an individual, there may be some banking route or exception procedure that would be linked to your immigration status.
Cheers,
Bev


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## twostep (Apr 3, 2008)

Bevdeforges said:


> Are you able to transfer your funds out of Iran - to a "neutral" country from which you could later transfer to the US? (Switzerland leaps to mind, but that may or may not be the best plan just now.)
> 
> It could depend on what kind of a visa you're going to the US, but bring some money with you to open a bank account (say, $1000) and then once you've done that, talk to your bank to see how to proceed with the rest. Given that you are transferring money as an individual, there may be some banking route or exception procedure that would be linked to your immigration status.
> Cheers,
> Bev


Would not touch laundering and Iran with a ten foot pole:>)
Transferring liquid funds as US individual for personal use through a non-sanctioned entity is possible. I have not heard otherwise but things can change on a daily basis. The problem is "non-sanctioned" and it has to be liquid. Until the money arrives safely in the US OP is out on a limb. All sorts of scenarios come to mind.


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## Bevdeforges (Nov 16, 2007)

As I said, it could be a big difference if the OP is going to the US on a "diversity visa" vs. a family sponsorship vs. declaring himself to be an asylum seeker. Also the source of the funds - but obviously that's not something we can get into here.
Cheers,
Bev


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## kengolive (May 14, 2014)

hi again guys
i've found a legal way to export any amount of cash from my country. now, could you give me an advice on importing this money to US? you said that i should declare it at the costum in airport, it's ok. i've also gathered docs to show where this money come rrom (my assets). now, should i pay taxes for my ~$200k of cash? (for two person). i would obviously open a bank account later with a portion of this money. thanks.


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## twostep (Apr 3, 2008)

kengolive said:


> hi again guys
> i've found a legal way to export any amount of cash from my country. now, could you give me an advice on importing this money to US? you said that i should declare it at the costum in airport, it's ok. i've also gathered docs to show where this money come rrom (my assets). now, should i pay taxes for my ~$200k of cash? (for two person). i would obviously open a bank account later with a portion of this money. thanks.


You have to declare the import if you have it on you. This has nothing to do with taxation.


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## kengolive (May 14, 2014)

do you mean NO TAXation on imported money?


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## twostep (Apr 3, 2008)

kengolive said:


> do you mean NO TAXation on imported money?


No taxation on imported money; it has to be declared.


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## Bevdeforges (Nov 16, 2007)

kengolive said:


> do you mean NO TAXation on imported money?


It's considered a transfer of capital. If you're earning money (i.e. income) and transferring that into the US, then that would be taxed. But the assumption is that you're transferring in money that you've already paid income tax on as it was earned.

Just declare it (and they may want to know the source of the funds when you do).
Cheers,
Bev


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## kengolive (May 14, 2014)

do you know guys what type of document should i prepare to show the source of money?
i ask this because i'm confused in HOW DEEP should i go!
1. these was a father who gave me a house as a gift (8 years ago).
2. i put it again in hosing.
3. i sold the house (3 years ago)
4. i just saved the money in bank
now please tell me how deep shouldd i prepare the docs, do i have to go even in level 0?


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## Bevdeforges (Nov 16, 2007)

The fact that it has been in your bank account for a few years should be adequate. If they ask you can tell them about the proceeds from the sale of the house.
Cheers,
Bev


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## twostep (Apr 3, 2008)

You have documentation showing the process:
father transfers property - deed, contract, registration of transfer
you sell property - contract, registration of transfer
bank account - record of deposit, bank statements

As you will probably not go back to Iran do your homework now. You will probably not need it but too much preparation is better than not enough.

Do not reinvent the wheel:>) You are not the first immigrant with cash in your pocket. 

Where will you be moving to in the US? Do you feel like sharing some of your plans with us?


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## kengolive (May 14, 2014)

twostep said:


> Where will you be moving to in the US? Do you feel like sharing some of your plans with us?


of course i;ll do this in a seperate post, wjere i can talk about the details but for now, i'm going to have a tiny business in central parts, %80 colorado


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## twostep (Apr 3, 2008)

kengolive said:


> of course i;ll do this in a seperate post, wjere i can talk about the details but for now, i'm going to have a tiny business in central parts, %80 colorado


Please do so!


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## NIbanana (Aug 8, 2014)

mamasue said:


> As far as I know, you can bring cash into the US...but you have to declare it at customs if it's over $10,000.
> You'll get asked questions about why you're transferring the cash, and what you're doing with it.
> 
> When I moved to the US, I kept my money in my UK bank, opened a bank account in the US, and transferred it over. The transfer took a few days, and didn't cost much.
> ...


When I opened my first bank account in Minnesota, I was required to show photo ID and SS# and also my green card.


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## kengolive (May 14, 2014)

NIbanana said:


> When I opened my first bank account in Minnesota, I was required to show photo ID and SS# and also my green card.


and guys, did you pay taxes for the first time saving your money in the banks?


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## twostep (Apr 3, 2008)

kengolive said:


> and guys, did you pay taxes for the first time saving your money in the banks?


You have to declare interest income of your annual tax return. At the current rates for savings accounts you will not go broke.


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