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Concerned with how much $ we can bring and take home. Advice needed.

Discussion in 'Getting There & Getting Around' started by Chris Hoiz, May 17, 2017.

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  1. Chris Hoiz

    Chris Hoiz Tourist

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    We're from Canada, and plan to visit in June for a few days.

    Realistically speaking, how much cash $$ can we actually bring into the US (for casino/gambling purposes if we are ever asked by customs) and how much cash $$ can we actually bring home? Is 10K the general limit, since that is what we have to generally declare to customs? In addition, do Canadians get taxed if they bring home over 10K?

    I wanted to know what other people did, and what happens if one if us wins big but can't find a way to bring home the goods....
     
  2. makuk

    makuk Low-Roller

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    You can take any $ amount in to the US, however, anything over $10,000 you need to declare it, here's the actual US Government statement:

    How much currency / money / monetary instruments can I bring into the U.S.?

    There is no limit on the amount of money that can be taken out of or brought into the United States. However, if a person or persons traveling together and filing a joint declaration (CBP Form 6059-B) have $10,000 or more in currency or negotiable monetary instruments, they must fill out a "Report of International Transportation of Currency and Monetary Instruments" FinCEN 105 (former CF 4790).

    Please be aware, if persons/family members traveling together have $10,000 or more, they cannot divide the currency between each other to avoid declaring the currency.

    For example, if one person is carrying $5,000 and the other has $6,000, they have a total of $11, 000 in their possession and must report it on a FinCEN 105. If a person or family fails to declare their monetary instruments in amounts of over $10,000, their monetary instrument(s) may be subject to forfeiture and could result in civil and or criminal penalties.

    The FinCEN 105 can be obtained prior to traveling or when going through CBP. If assistance is required, a Customs and Border Protection (CBP) Officer can help with filling out the form.
     
  3. nostresshere

    nostresshere Mr. Anti Debit Card

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    There is no limit. If over $10k, you just need to declare.

    Repeat, there is no limit.

    As to Canada taxes - no idea but can not imagine they tax you just because you have money in your pocket.
     
  4. ScottE

    ScottE Roller!

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    Lottery, gambling winnings etc are tax free in Canada. YOu will not be asked to pay tax on them.

    If you get any hand payouts during the trip as that can help substanciate where the cash came from.

    Depending on how close you are to 10K CDN (7,5K USD) the customs offcal may have you fillout the FINTRAC paper work or just wave you through.

    Do not worry about reporting this money. It is yours are legal to do so.
     
  5. tmoney25

    tmoney25 High-Roller

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    No need to worry. Based on my experiences, you won't win! :D
     
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  6. Chris Hoiz

    Chris Hoiz Tourist

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    Canadians don't have to pay Canadian tax. But don't we have to pay US state tax on all winnings? Like if I won the Powerball for 1 Billion in LV or 50K jackpot at the slots...... I swear I heard Canadians had to pay US Tax?!?!
     
  7. nostresshere

    nostresshere Mr. Anti Debit Card

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  8. sabre

    sabre Low-Roller

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    Don't take advice on moving currency across borders from here. Look up the regulations yourself and follow them.
     
  9. Chris Hoiz

    Chris Hoiz Tourist

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    Now Im just confused as hell. Thought I could just walk home with cash in my hand. So the casinos will actually withhold any large winnings from jackpots.... what about blackjack and other table games, what are they gonna do to prevent me from walking out with cash after I check out??????
     
  10. nostresshere

    nostresshere Mr. Anti Debit Card

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    I would strongly suggest you go to the link above about residents from Canada. Federal U.S. law requires a tax form for slot jackpots of $1200 or more and certain table game winnings (RARE). Read that link for how you get any taxes taken out back.
     
  11. merlin

    merlin MIA

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    There is no withholding on BJ or other table games(unless if you win some special payout, such as a pie gow fortune payout), meaning you could walk up to a table with $100, win $1 million and no withholding, period.(that would be a good run) Others have already told you about cash crossing borders - unlimited but if over 10K you must declare it, so stop worrying.
     
  12. ScottE

    ScottE Roller!

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    Simply put winnings are tax free in Canada. Canadians gambling in the US are subject to US regulations. IE 30% withhold on slot pulls greater than $1,200

    You will not pay any further tax to the Canadian government upon your return. and yes, should you have more than 10K in CANADIAN currency value, just declare it.
     
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