Which form is required to be filed with CBP for transporting $10,000 or more in currency or monetary instruments into or out of the United States?

Which form is required to be filed with CBP for transporting $10,000 or more in currency or monetary instruments into or out of the United States?

• A. Currency Transaction Report (CTR)
• B. Report of Foreign Bank and Financial Accounts (FBAR)
• C. Report of International Transportation of Currency or Monetary Instruments (CMIR)
• D. Suspicious Activity Report (SAR)

Answer: (C)

When you physically carry currency or monetary instruments across the U.S. border in amounts of $10,000 or more, you must file a Currency and Monetary Instrument Report, known as the CMIR, with Customs and Border Protection. This form records who is transporting the funds, the amount, and the origin and destination, helping authorities monitor cross-border money movement and deter illicit activity. This is different from a Currency Transaction Report, which is filed by banks for cash transactions over $10,000 within the U.S. with FinCEN, not with CBP. It also differs from an FBAR, which relates to foreign bank accounts, and from a Suspicious Activity Report, which is filed only when activity raises suspicion. Currency and monetary instruments include cash and negotiable instruments like traveler's checks or money orders.

When you physically carry currency or monetary instruments across the U.S. border in amounts of $10,000 or more, you must file a Currency and Monetary Instrument Report, known as the CMIR, with Customs and Border Protection. This form records who is transporting the funds, the amount, and the origin and destination, helping authorities monitor cross-border money movement and deter illicit activity.

This is different from a Currency Transaction Report, which is filed by banks for cash transactions over $10,000 within the U.S. with FinCEN, not with CBP. It also differs from an FBAR, which relates to foreign bank accounts, and from a Suspicious Activity Report, which is filed only when activity raises suspicion. Currency and monetary instruments include cash and negotiable instruments like traveler's checks or money orders.