U.S. Customs has authority seize currency and monetary instruments under the Currency and Foreign Transactions Reporting Act, which is Title 31 of the United States Code, sections 5311 and following. This law requires any person entering or leaving the U.S. file a report (FinCen 105) at the time of entry or departure,
disclosing the amount of money or the equivalent of money that the person is transporting, about to transport, or has transported which is valued at more than $10,000, at one time.
In order to ensure compliance with this reporting requirement, a “customs officer may stop and search, at the border and without a search warrant, any vehicle, vessel, aircraft, or other conveyance, any envelope or other container, and any person entering or departing from the United States.”
If you do not file the report, or misreport the amount being transported, or you conspire with someone to misreport and not make the report, then the property and any property traceable to it “may be seized and forfeited to the United States.”
In a series of articles, we explain currency seizures and answer frequently asked questions in greater detail. Those articles are:
- Seizure of currency and monetary instruments by U.S. Customs
- Seizure for bulk cash smuggling into or out of the U.S.
- Structuring currency imports and exports
- Is it $10,000 per person? Under what circumstances is filing a report with Customs for transporting more than $10,000 required?
- Criminal & civil penalties for failing to report monetary instrument transportation
- Is only cash currency subject to seizure by Customs?
- Responding to a Customs currency seizure
- How do I get my seized money back?
- Getting money seized by U.S. Customs back while staying overseas
- How long does it take Customs to decide a petition for a currency/monetary instrument seizure?
- Statute of Limitations for Currency Reporting Violations
- Filing a Petition for Seized Currency (with Sample and Tips) with CBP
- Don’t Talk About Your Customs Currency Seizure Case
- Understanding CBP’s Election of Proceedings Form
Proceeding with an attorney experienced in customs matters will ensure that you rights are protected and the best strategy is used to obtain the best possible result. We can solve your customs problem! Call us today for a consultation with a customs lawyer at (734) 855-4999, or send an e-mail to legal@greatlakescustomslaw.com.