Monday, November 16, 2009

How much money can you legally carry in cash in the US?

I read a story in the IndyStar today about a Woman who was found with a large sum of money in her car. I have heard that it is a Federal offense to carry more than $10,000 in cash. Does anyone know if this is true, or what law/code applies to this law? I wanted to research it more, but I have had no luck in finding out more. Thanks!

How much money can you legally carry in cash in the US?
As much as you want.





You can only export $10,000 in cash.





The banks also report any withdrawals or deposits over $5,000 to the treasury dept.








Try again Patricia- check the treasury dept regulations. It used to be $10,000
Reply:I git 25000 on me
Reply:That's hogwash. A BANK transaction over 10,000. is reported to IRS.
Reply:Besides being reported when large sums are withdrawn from a bank, you will need to be able to prove what the reason is for carrying a large amount of cash. This has been done due to drug deals.
Reply:You can carry as much as you want as long as you can prove where you got it from and as long as you don't try to do something illegal with it


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