• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

RJS LAW - Tax and Estate Planning

RJS LAW: San Diego Tax Attorney | IRS | FTB | CPA | California

Header Right

SOUTHERN CALIFORNIA’S FINEST
LAW FIRM

COMPLIMENTARY CASE EVALUATION

SAN DIEGO
(619) 595-1655
El CAJON
(619) 777-7700
  • Home
  • About
    • Ronson J. Shamoun, ESQ., LL.M.
    • Chandara Diep, ESQ., LL.M.
    • Devon J. Arabo, ESQ., LL.M.
    • Brian M. Malloy, Esq.
    • Andrea Cisneros Valdez, Esq., LL.M.
    • Sam Imandoust, ESQ., LL.M
    • Lauren Suarez, ESQ., LL.M.
    • John I. Forry, Esq.
    • Martin Schainbaum, ESQ., LL.M.
    • Kaveh Imandoust, JD, MBT, CPA
    • Joseph Cole, ESQ., LL.M.
    • Christopher Engelmann, ESQ., LL.M.
    • Remy Hogan, Esq., LL.M.
    • Steve S. Mattia, Esq.
    • Dod Ghassemkhani, ESQ.
    • Vincent Renda, Esq.
    • Pedro Bernal, Esq.
    • Sabri P. Shamoun 1938-2023
    • Melanie M. Shamoun
    • Renae Arabo
    • Hilary Dargavell
    • Sandie Portilla
    • Lupita C. Torres
    • Jewell Cornejo
    • Kesia Belford
    • Danielle N. Misleh
    • Judith G. Jeremie, JD
    • Rebecca Shuman
    • Michael Lutzky, CPA
    • Gianna Iskander
  • Practices
    • Tax
      • IRS TAX MATTERS
        • IRS Appeals
          • IRS Appeals Process
          • Contesting an IRS Levy
          • Why Retain RJS LAW for IRS Appeals
          • 4 Tips For Navigating The IRS Rapid Appeals Process
        • IRS AUDITS
          • IRS Correspondence Audits
          • What are IRS Field Audits?
          • Initial IRS Compliance Center Audits
          • IRS Office Audits
          • What happens in an IRS Audit?
          • Taxpayer Rights Under IRS Publication 1
          • IRS Warns Taxpayers About Scam
        • NOTICES
          • IRS Notices
          • IRS Letters
          • FTB Notices
          • Avisos en Español
        • IRS Collections
          • Avoiding and Eliminating IRS Tax Liens
          • Collection Due Process Hearing
          • CP 501 – IRS Notice
          • Failure to file a tax return: What happens?
          • How the IRS calculates interest
          • How to get a tax levy released
          • ACS – Automated Collection System
          • IRS Collections Process
          • IRS Interest Abatement
          • IRS Revenue Officers
          • Jeopardy Assessments and Jeopardy Levies
          • National Tax Agencies
          • RJS LAW Approach to Collections
          • IRS Statute of Limitations on Collections
          • Streamlined Installment Agreements
          • Tax Penalty Abatement
          • Taxpayer Assistance Orders TAO
        • IRS Payroll Tax
          • Independent Contractor Reclassification Audits
          • IRS Forms 940 and 941
          • IRS Trust Fund Interviews
          • Payroll Tax Liability Payment Options
          • Trust Fund Recovery Penalties
        • IRS Wealth Squad
        • Offer in Compromise & Tax Settlements
          • OVERVIEW OF OFFER IN COMPROMISE PROCESS
          • The Offer in Compromise Process
          • Appealing an Offer in Compromise to the IRS
          • How does the IRS evaluate an Offer in Compromise
          • Offer in Compromise and Dissipated Assets
          • Offer in Compromise Requirements
          • Pros and Cons of an Offer in Compromise
          • Why Choose RJS LAW?
          • Offer in Compromise Alternatives
          • Actual IRS Offer in Compromise Results
      • STATE TAX MATTERS
        • EDD California Payroll Tax Lawyer
          • EDD Investigations
          • EDD Collections – Liens, Levies, and Garnishments
        • CDTFA – California Sales Tax
          • California Sales Tax Appeals
          • California Sales Tax Audits
          • California Department Of Tax And Fee Administration – CDTFA
        • California State Tax Matters – California Franchise Tax Board | FTB | EDD
          • California Residency Audits
          • Discharging State Income Taxes in Bankruptcy
          • State Tax Practice – Outside of California
      • CRIMINAL TAX ISSUES
        • Criminal Investigation Division
        • IRS Criminal Investigation Division Tactics
        • Criminal Tax Defense – Tax Crimes
        • Currency Transaction Records & Suspicious Activity Reports
        • IRS Methods of Proof: Tax Fraud and Evasion
        • Methods IRS Agents Use to Locate Assets
        • IRS Special Agent Visits
        • Are You a Criminal Investigation Target?
        • Criminal Tax Attorney vs. White Collar Defense
      • CORPORATE TAXES
      • TAX COURT LITIGATION
      • Innocent Spouse Relief
    • International Tax
    • Estate Planning
    • Trust Litigation
    • Trust, Estate & Probate Litigation
    • Trust & Estate Administration
    • Probate
    • Bankruptcy
      • Bankruptcy (FAQ’s)
    • Civil Litigation
    • Criminal Defense
    • Accidents & Injury
    • Corporate & Transactional
    • Private Wealth Services
    • Real Estate Law
      • Landlord Tenant Law
    • Employment Law
  • Tax Institute
    • 10th Annual USD School of Law – RJS LAW Tax Institute
    • 9th Annual USD School of Law – RJS LAW Tax Institute
    • 8th Annual USD School of Law – RJS LAW Tax Controversy Institute – July 28th, 2023
    • 7th Annual USD School of Law – RJS LAW Tax Controversy Institute – July 15th 2022
    • 6th Annual USD School of Law – RJS LAW Tax Controversy Institute
    • 5th Annual USD School of Law – RJS LAW Tax Controversy Institute
    • 4th Annual USD School of Law – RJS LAW Tax Controversy Institute
  • Testimonials
  • Giving
    • Giving
    • RJS LAW Donates Billboard to the Girl Scouts
  • Awards
    • Awards
    • Ronson J. Shamoun at events with various dignitaries
    • SD50 Extraordinary Leadership
    • Media
    • Video Gallery
  • Blog
  • Pay
  • Contact
  • en English
    • en English
    • es Español

WINNER OF THE UNION TRIBUNE SAN DIEGO'S BEST TAX LAW FIRM

 


9 YEARS

Call
Contact
Blog
  • Home
  • About
    • Ronson J. Shamoun, ESQ., LL.M.
    • Chandara Diep, ESQ., LL.M.
    • Devon J. Arabo, ESQ., LL.M.
    • Brian M. Malloy, Esq.
    • Andrea Cisneros Valdez, Esq., LL.M.
    • Sam Imandoust, ESQ., LL.M
    • Lauren Suarez, ESQ., LL.M.
    • John I. Forry, Esq.
    • Martin Schainbaum, ESQ., LL.M.
    • Kaveh Imandoust, JD, MBT, CPA
    • Joseph Cole, ESQ., LL.M.
    • Christopher Engelmann, ESQ., LL.M.
    • Remy Hogan, Esq., LL.M.
    • Steve S. Mattia, Esq.
    • Dod Ghassemkhani, ESQ.
    • Vincent Renda, Esq.
    • Pedro Bernal, Esq.
    • Sabri P. Shamoun 1938-2023
    • Melanie M. Shamoun
    • Renae Arabo
    • Hilary Dargavell
    • Sandie Portilla
    • Lupita C. Torres
    • Jewell Cornejo
    • Kesia Belford
    • Danielle N. Misleh
    • Judith G. Jeremie, JD
    • Rebecca Shuman
    • Michael Lutzky, CPA
    • Gianna Iskander
  • Practices
    • Tax
      • IRS TAX MATTERS
        • IRS Appeals
          • IRS Appeals Process
          • Contesting an IRS Levy
          • Why Retain RJS LAW for IRS Appeals
          • 4 Tips For Navigating The IRS Rapid Appeals Process
        • IRS AUDITS
          • IRS Correspondence Audits
          • What are IRS Field Audits?
          • Initial IRS Compliance Center Audits
          • IRS Office Audits
          • What happens in an IRS Audit?
          • Taxpayer Rights Under IRS Publication 1
          • IRS Warns Taxpayers About Scam
        • NOTICES
          • IRS Notices
          • IRS Letters
          • FTB Notices
          • Avisos en Español
        • IRS Collections
          • Avoiding and Eliminating IRS Tax Liens
          • Collection Due Process Hearing
          • CP 501 – IRS Notice
          • Failure to file a tax return: What happens?
          • How the IRS calculates interest
          • How to get a tax levy released
          • ACS – Automated Collection System
          • IRS Collections Process
          • IRS Interest Abatement
          • IRS Revenue Officers
          • Jeopardy Assessments and Jeopardy Levies
          • National Tax Agencies
          • RJS LAW Approach to Collections
          • IRS Statute of Limitations on Collections
          • Streamlined Installment Agreements
          • Tax Penalty Abatement
          • Taxpayer Assistance Orders TAO
        • IRS Payroll Tax
          • Independent Contractor Reclassification Audits
          • IRS Forms 940 and 941
          • IRS Trust Fund Interviews
          • Payroll Tax Liability Payment Options
          • Trust Fund Recovery Penalties
        • IRS Wealth Squad
        • Offer in Compromise & Tax Settlements
          • OVERVIEW OF OFFER IN COMPROMISE PROCESS
          • The Offer in Compromise Process
          • Appealing an Offer in Compromise to the IRS
          • How does the IRS evaluate an Offer in Compromise
          • Offer in Compromise and Dissipated Assets
          • Offer in Compromise Requirements
          • Pros and Cons of an Offer in Compromise
          • Why Choose RJS LAW?
          • Offer in Compromise Alternatives
          • Actual IRS Offer in Compromise Results
      • STATE TAX MATTERS
        • EDD California Payroll Tax Lawyer
          • EDD Investigations
          • EDD Collections – Liens, Levies, and Garnishments
        • CDTFA – California Sales Tax
          • California Sales Tax Appeals
          • California Sales Tax Audits
          • California Department Of Tax And Fee Administration – CDTFA
        • California State Tax Matters – California Franchise Tax Board | FTB | EDD
          • California Residency Audits
          • Discharging State Income Taxes in Bankruptcy
          • State Tax Practice – Outside of California
      • CRIMINAL TAX ISSUES
        • Criminal Investigation Division
        • IRS Criminal Investigation Division Tactics
        • Criminal Tax Defense – Tax Crimes
        • Currency Transaction Records & Suspicious Activity Reports
        • IRS Methods of Proof: Tax Fraud and Evasion
        • Methods IRS Agents Use to Locate Assets
        • IRS Special Agent Visits
        • Are You a Criminal Investigation Target?
        • Criminal Tax Attorney vs. White Collar Defense
      • CORPORATE TAXES
      • TAX COURT LITIGATION
      • Innocent Spouse Relief
    • International Tax
    • Estate Planning
    • Trust Litigation
    • Trust, Estate & Probate Litigation
    • Trust & Estate Administration
    • Probate
    • Bankruptcy
      • Bankruptcy (FAQ’s)
    • Civil Litigation
    • Criminal Defense
    • Accidents & Injury
    • Corporate & Transactional
    • Private Wealth Services
    • Real Estate Law
      • Landlord Tenant Law
    • Employment Law
  • Tax Institute
    • 10th Annual USD School of Law – RJS LAW Tax Institute
    • 9th Annual USD School of Law – RJS LAW Tax Institute
    • 8th Annual USD School of Law – RJS LAW Tax Controversy Institute – July 28th, 2023
    • 7th Annual USD School of Law – RJS LAW Tax Controversy Institute – July 15th 2022
    • 6th Annual USD School of Law – RJS LAW Tax Controversy Institute
    • 5th Annual USD School of Law – RJS LAW Tax Controversy Institute
    • 4th Annual USD School of Law – RJS LAW Tax Controversy Institute
  • Testimonials
  • Giving
    • Giving
    • RJS LAW Donates Billboard to the Girl Scouts
  • Awards
    • Awards
    • Ronson J. Shamoun at events with various dignitaries
    • SD50 Extraordinary Leadership
    • Media
    • Video Gallery
  • Blog
  • Pay
  • Contact

Leave a Comment

What You Need to Know About FinCEN Form 105 – Importing Currency into the United States

What You Need to Know About FinCEN Form 105 – Importing Currency into the United States

What You Need to Know About FinCEN Form 105

As a city with a direct border to Mexico, San Diego is a popular destination for our Mexican neighbors who need to know about the FinCen Form 105 in order to bring currency into the United States for business or personal use.

Those planning to import currency into the United States from any foreign country, must comply with the rules and the United States government has strict regulations governing the import of monetary instruments.  Failure to comply with the rules may result in significant penalties.

What is the Currency Declaration Requirement?

The U.S. government requires all travelers bringing currency or other monetary instruments into the United States to declare currency and other instruments that equal to or exceed $10,000. This requirement applies to all travelers, regardless of citizenship or nationality.

What is Considered Currency?

For purposes of the currency declaration requirement, currency includes any coins or paper money, as well as traveler’s checks, money orders, and other monetary instruments such as bearer negotiable instruments, bearer investment securities, bearer securities, and/or stock on which title is passed on delivery.

How to Declare Currency – FinCEN Form 105

To declare currency, the bearer must complete a FinCEN Form 105, Report of International Transportation of Currency or Monetary Instruments. The FinCEN Form 105 is available from any U.S. Customs and Border Protection (CBP) officer.

When you complete the FinCEN Form 105, you must provide the following information:

  • Your name and address,
  • The date of your arrival in the United States,
  • The value of currency or other monetary instruments you are bringing into the United States, and,
  • The country from which you are bringing the currency or other monetary instruments.

Currency Declarations Apply to Families

When entering the United States, families residing in one household and submitting a joint declaration, must declare the aggregate value of their currency or monetary instruments when it meets or exceeds the $10,000 limit on their Customs Declaration Form (CBP Form 6059B).

In addition, if any one member of the family brings in more than $10,000, they must also file a separate FinCEN Form 105. In essence, families are prohibited from having one member carry currency or monetary instruments on behalf of another member to avoid the $10,000 reporting requirement.

What Are the Penalties for Not Declaring Currency?

Penalties for failing to declare currency may be significant. Any person or family found to be bringing undeclared currency into the United States, may be assessed a fine of up to $5,000 and/or imprisonment for up to five years.

Currency Transaction Reporting Rules Also Apply to Exports

International travelers leaving the United States, regardless of their citizenship, with currency or monetary instruments in a combined amount exceeding $10,000 are also required to file a FinCEN Form 105 prior to their time of departure.

Tips for Complying with the Currency Declaration Requirement

Maintain timely and accurate records of all monetary transactions to substantiate the value of currency you are bringing into the United States.

Declare all currency or other monetary instruments being brought into the United States. It is suggested to declare the transportation of currency even if the total value is less than $10,000.

Additional Considerations when Importing Currency to the United States from Mexico:

  • Mexico is a high-risk country for money laundering.
  • Travelers bringing currently into the United States from Mexico may be subject to additional scrutiny.
  • Travelers from Mexico may be asked to provide additional information regarding the source of the currency, such as a bank statement or a letter from their employer, to legitimize the currency.
  • Bringing currency into the United States for business purposes, may require the filing of additional paperwork.

Following the rules and the above tips may help ensure the proper disclosures and compliance with the U.S. currency rules and go a long way in avoiding serious penalties associated with non-compliance.

Should you have any questions regarding the transportation of currency and other monetary instruments, please reach out to the International Tax Attorneys at RJS LAW via the web or call 619-595-1655, for a free consultation.

Written by Andrea Cisneros Valdez, Esq., LL.M.

About Us

Filed Under: FinCEN, Form 105, International Tax Tagged With: FinCEN, Form 105, international tax

RJS LAW

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Subscribe To RJS LAW

Email Address

Contact Us

  • This field is for validation purposes and should be left unchanged.

Recent Posts

  • EDD Audit Process
  • The Exception to the Exception to the Exception — California Court Rules Certain Medical Devices May be Subject to CDTFA Sales Tax
  • Living on the Edge – Life Without Creating a Will

Categories

  • Advance Child Tax Credit
  • Asset Protection
  • Bank Fraud
  • Bankruptcy
  • Bankruptcy Attorney
  • Bankruptcy Laws
  • Beneficial Ownership Information
  • Bypass Trust
  • California AB5
  • California Payroll Taxes
  • California Sales Tax
  • Cannabis Tax
  • CARES Act
  • Cash Payments
  • Charitable Trust
  • Child Tax Credit
  • Company News
  • Contractor vs Employee
  • Contracts
  • Coronavirus
  • Court Settlements
  • COVID-19
  • CP14 Notice
  • CP504
  • CP504B
  • Cryptocurrency
  • Cryptocurrency Taxes
  • Digital Assets
  • E-Commerce
  • Economic Stimulus
  • EDD
  • EDD Audit
  • EDD Audit Penalties
  • Employee Retention Credit
  • Employment Law
  • ERTC
  • Estate Planning
  • Estate Planning Litigation
  • Excise Taxes
  • Exemption Planning
  • FBAR
  • FBAR Penalties
  • FBAR Reporting
  • Filing Bankruptcy
  • Financial Reporting
  • FinCEN
  • Foreign Bank Account
  • Foreign Bank Accounts
  • Form 105
  • Form 5471
  • Form 8300
  • FTB Audits
  • FTB Collections
  • FTB Issues
  • FTB Penalties
  • Gambling Tax
  • Gaming Losses
  • Gereration Skipping Trusts
  • Guardianship
  • Hiring a tax attorney
  • Homestead Exemption
  • How to Declare the Child Tax Credit
  • How-To Legal Advice
  • Inflation Reduction Act of 2022
  • Intellectual Property
  • International Tax
  • International Tax Attorney
  • International Tax Law for Non-Profits
  • International Tax Reporting Requirements
  • IRS
  • IRS Appeals
  • IRS Audits
  • IRS Collections
  • IRS CP14 Notice
  • IRS Deadlines
  • IRS Form 8833
  • IRS Forms Explained
  • IRS Issues
  • IRS News
  • IRS Notice of Tax Lien
  • IRS Notices
  • IRS OVDI
  • IRS Penalties
  • IRS Website
  • Jobs Act
  • Levies
  • Liens
  • Lottery Taxes
  • Mail Fraud
  • Masters in Taxation – LL.M.
  • No Worries ®
  • Offer in Compromise
  • Opportunity Zone
  • Penalties for Filing Late
  • PPP Loan
  • Probate
  • Property Tax Assessment
  • Proposition 19
  • Publicly Traded Partnership
  • Required Minimum Distribution
  • Restaurant Sales Tax
  • Retaliation Claims
  • Retirement
  • Revocable Trust
  • Rewards Program
  • RJS LAW In The Community
  • Sales Tax
  • Sales Tax Audit
  • San Diego Law Firm
  • SBOE Audits
  • SBOE Issues
  • Self Employment
  • Small Business
  • Stock Buyback
  • Stock Options
  • Stock Repurchase
  • Streamlined Procedures
  • Student Loans
  • Tax and Vice
  • Tax Attorney
  • Tax Brackets
  • Tax Controversy Institute
  • Tax Credit
  • Tax Cuts
  • Tax Deduction
  • Tax Deductions
  • Tax Delinquency List
  • Tax Gap
  • Tax Institute
  • Tax Law
  • Tax Liens
  • Tax on Social Media Influencers
  • Tax Penalties
  • Tax Rates
  • Tax Tips
  • Taxation of Rewards
  • Taxes
  • The American Rescue Plan Act of 2021
  • Third Party Settlement Organizations
  • Trust
  • Trust Litigation
  • Trusts
  • U.S. Supreme Court
  • Uncategorized
  • Unemployment
  • USD School of Law – RJS LAW Tax Controversy Institute
  • Vape Taxes
  • W-8 Forms
  • Wage Garnishment
  • Wills

Footer

Legal Resources

  • Payments
  • Services
  • Tax Law Blog
  • Video Gallery

SAN DIEGO

Map & Directions
FREE Underground parking in building

303 A Street
Suite 400
San Diego, CA 92101

Phone No.
(619) 595-1655

El CAJON

Map & Directions

900 N. Cuyamaca St., Suite 101
El Cajon, CA 92020

Phone No.
(619) 777-7700

RJS LAW Tax

Areas We Serve

– Del Mar
– Coronado
– La Jolla
– La Mesa
– Chula Vista
– Escondido
– San Marcos
– Carlsbad
– Oceanside

 


©2025 | RJS LAW Firm | All Rights Reserved | Privacy Policy