The penalties for failing to report have changed
Penalties for seized currency or monetary instruments equivalent to CAD$10,000 or more are now in effect and range from 5% to 50% of the total value.
It should be noted that CBSA will not return funds if it is suspected they are proceeds of crime or funds for financing terrorist activities.
There are no restrictions on the amount of money you can bring into or take out of Canada, and it is not illegal to do so, as long as you declare it.
This applies to all travellers, couriers and to people carrying money on behalf of someone else.
On this page
- What to declare
- How to declare your money when you enter or leave Canada
- Sending money to or from Canada by mail
- Sending money to or from Canada by courier
- If you fail to report (penalties)
- What happens to your report
- Contact us
- Related link
What to declare
Whether you are leaving or entering Canada, you must declare any currency (cash) or monetary instruments valued at CAD$10,000 or more that you are carrying. This amount includes Canadian or foreign currency or a combination of both.
Monetary instruments include, but are not limited to:
- stocks
- bonds
- bank drafts
- cheques and traveller's cheques
You must also declare funds you send to or from Canada by mail or by courier.
How to declare your money when you enter or leave Canada
If you are carrying CAD$10,000 or more of your own money when entering or leaving Canada, complete this form for individuals and be ready to present it when you travel.
If you are carrying money on behalf of someone else, complete this general form and be ready to present it when you travel.
Arriving in Canada
If you are carrying CAD$10,000 or more you must report it at:
- an airport kiosk
- on your CBSA Declaration Card (if one was provided to you)
- through your Advance Declaration, or
- as part of your verbal declaration to a border services officer
Leaving Canada
When leaving by air carrying CAD$10,000 or more, you must report to the CBSA office at the airport, before clearing security. Before leaving by land, boat or rail, report to the nearest CBSA office.
Important information for NEXUS members
If you are crossing the border with currency or monetary instruments valued at CAD$10,000 or more, you cannot use NEXUS.
More information: NEXUS Terms and conditions
Sending money to or from Canada by mail
If you are sending CAD$10,000 or more in currency or monetary instruments to Canada by mail:
- complete this general form and place it inside your parcel
- attach a Universal Postal Convention (UPC) declaration, available at your nearest postal office, to the parcel
If you are sending CAD$10,000 or more in currency or monetary instruments from Canada by mail:
- complete this general form and submit a copy of it to the nearest CBSA office
- attach a Canada Post Customs Declaration form (CN23), available at your nearest postal office, to the parcel
Additional postal requirements may exist. Contact Canada Post for more information.
Sending money to or from Canada by courier
If you are sending CAD$10,000 or more in currency or monetary instruments to or from Canada by courier complete this general form.
You must give this completed form to the person in charge of the conveyance or the courier. They will:
- complete a courier form
- attach it to your general form
If you fail to report
The CBSA has the authority to seize all currency and monetary instruments if the entire value is not reported. They may be returned after a penalty is paid.
Penalties
Penalties range from 5% to 50% of the seized funds. The CBSA will not return the funds if it is suspected they are the proceeds of crime or funds for financing terrorist activities.
If you wish to dispute the seizing of funds, you may file a review.
Why you need to report
Reporting currency is an important part of helping CBSA fight money laundering and terrorist financing.
The CBSA administers and enforces legislation to help the Government of Canada to:
- detect and deter money laundering and terrorist financing activities
- facilitate the investigation and prosecution of related offences
- respond to the threat posed by organized crime
- fulfill international commitments to fight transnational crime
More information: Proceeds of Crime (Money Laundering) and Terrorist Financing Act (justice.gc.ca)
What happens to your report
Your completed forms are sent to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for assessment and analysis.
The information provided on the currency reporting forms is subject to the Privacy Act and is collected under the authority of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
Contact us
- FINTRAC
- Border Information Service, by telephone
Related link
Cross-Border Currency and Monetary Instruments Reporting Regulations
FAQs
What to declare. Whether you are leaving or entering Canada, you must declare any currency (cash) or monetary instruments valued at CAD $10,000 or more that you are carrying. This amount includes Canadian or foreign currency or a combination of both.
What happens if I travel with more than $10 000 US? ›
You may bring into or take out of the country, including by mail, as much money as you wish. However, if it is more than $10,000, you will need to report it to CBP. Use the online Fincen 105 currency reporting site or ask a CBP officer for the paper copy of the Currency Reporting Form (FinCen 105).
Is $10,000 cash limit per person or family in the USA? ›
Members of a family dwelling in the same home who enter the United States on a joint or family declaration must report on their Customs Declaration Form if they carry money or monetary instruments totalling more than $10,000.
How much do you declare when traveling? ›
You must declare cash of £10,000 or more to UK customs if you're carrying it between Great Britain (England, Scotland and Wales) and a country outside the UK. If you're travelling as a family or group with more than £10,000 in total (even if individuals are carrying less than that) you still need to make a declaration.
How much money is allowed to carry to Canada? ›
Any time you enter or leave Canada, you must declare any money or monetary instruments, such as stocks, bond or cheques that you are carrying valued at $10,000 or more.
What happens if you bring more than $10,000 into Canada? ›
Disclosure of funds
Tell a Canadian official when you arrive in Canada if you're carrying more than CAN $10,000. If you don't, you may be fined, and your funds could be seized.
What must be declared at US customs? ›
Travelers must provide their full name, date of birth, address, and passport details in the personal information section. In the declaration of goods section, they must list and describe all items they bring into the country, including personal belongings, gifts, and purchases abroad.
What happens if you don't declare at Customs? ›
Once the property is not declared, Customs will generally seize it at the time. Some days or weeks later, you should receive a notice of seizure letter by U.S. mail.
Can I fly with 20k cash? ›
Yes, there is no limit to how much money you can take with you on domestic flights, but you should be prepared to answer the TSA questions if carrying a large sum of cash with you.
What happens if you don't declare money at the airport? ›
If the cash reporting form is inaccurate, or not made at all, Customs can seize the cash and forfeit all the money.
The short answer is “there is no limit to how much cash you can bring to the airport for a domestic or intentional flight. However, you must declare on the FinCEN105 form that you are bringing more than $10,000 on an international flight (which includes all money being carried by anyone in your family or group).
How much do you have to declare when traveling? ›
Failure to declare currency in amounts over $10,000 may be subject to forfeiture and could result in civil and criminal penalties.
How much money can you travel with internationally per person? ›
You need to declare it when traveling internationally
It's legal to travel with more than $10,000 in the United States and abroad. You have the right to travel with as much money as you want. However, during international travel, you need to report currency and monetary instruments in excess of $10,000.
What happens if I declare more than $10,000? ›
There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105. All forms must be filled in completely and truthfully. The penalties for inaccurate declaration and non-compliance can be severe including heavy fines and/or confiscation of funds.
What is the customs limit in Canada? ›
You can claim goods worth up to CAN$800. You must have tobacco products and alcoholic beverages in your possession when you enter Canada, but other goods may follow you by other means (such as courier or by post). However, all of the goods you are bringing back must be reported to the CBSA when you arrive.
How much cash can you keep at home legally in Canada? ›
There's no limit, and there's no civil forfeiture either. The government can't hold it against you that keeping large amounts of cash are evidence of criminal activity, or the intention of committing criminal acts.
Can I fly with $20000 cash? ›
People often ask: How much cash can you carry on a plane for a domestic or international flight? The short answer is “there is no limit to how much cash you can bring to the airport for a domestic or intentional flight.
What if my check is over $10 000? ›
However, for individual cashier's checks, money orders or traveler's checks that exceed $10,000, the institution that issues the check in exchange for currency is required to report the transaction to the government, so the bank where the check is being deposited doesn't need to.
Do I have to pay taxes on money I bring into the US? ›
If you bring more than $10,000 in cash back into the United States after time spent abroad, you must declare it using U.S. Customers and Border Patrol Form 6059B and FinCEN Form 105.