Bringing Dinar into US

[Tico]

Hello all, not sure if anyone has any ideas on US customs and US customs ppw. The issue is one for personnel like myself, civilian contractors in Iraq coming to the US with Dinar in tow. I am deployed in Western Iraq of my own free will. When the RV happens you can understand why thousands of us contractors, military and even government workers will make a B line for the eastern seabord of the US. Picture this, we buy our Dinars at current face value, the same one you see at the CBI. That is what the local banks, yes there are more than one, Warka is not necessarily the king of the road. We also buy on base at the military finance office, same rate as CBI offers. My point is this, when the RV hits and we come in in droves will we have problems with US Customs. We obviously paid a different rate than whatever the RV turns out to be. If I have $1500 worth if Dinar that is what I paid and that should be what I declare ont he form correct? Would I be a fool not to decalre and simply keep quiet? I understand this does not affect anyone sitting down in the US, only us citizins towing precious cargo I would say. Does US Customs have to be apprised of currency that I bring in that falls under the 10k threashold? Thousghts, concerns, indifferences would be appreciated. Thanks.

[coxcreeksc]

I would check the web site of the specific air line you will fly first, the the us customs site for info.

[p71rock]

According to the "DEPARTMENT OF THE TREASURY FINANCIAL CRIMES ENFORCEMENT NETWORK" you have to fill out the FinCEN Form 105 form when transporting any currency in or out of the US over $10,000

www.fincen.gov/fin105_cmir.pdf

Personally I recommend if you can afford it have a currior trans port it into the US if that is what you need to do - they have an exemption in the 105 form, read page to of the pdf file.

[Tico]

You are right, after doing a bit of due diligence I came up with this link http://www.cbp.gov/xp/cgov/newsroom/news_releases/archives/2009_news_releases/july_2009/07232009.xml A very interesting read.

The ironic part of this is that I am paying today's rate and post RV it will be worth something else. Declaring what I say it is curently worth or what I paid for is not a lie. I only have a few receipts, some are even in total Arabic. Nevertheless, it does pose an interesting topic for thousand upon thousands of personnell that can be potentially nabbed. Incidentally, we are not allowed to mail currency in theater, it is forbidden even through the USPS.

[trakkr]

Hello all, not sure if anyone has any ideas on US customs and US customs ppw. The issue is one for personnel like myself, civilian contractors in Iraq coming to the US with Dinar in tow. I am deployed in Western Iraq of my own free will. When the RV happens you can understand why thousands of us contractors, military and even government workers will make a B line for the eastern seabord of the US. Picture this, we buy our Dinars at current face value, the same one you see at the CBI. That is what the local banks, yes there are more than one, Warka is not necessarily the king of the road. We also buy on base at the military finance office, same rate as CBI offers. My point is this, when the RV hits and we come in in droves will we have problems with US Customs. We obviously paid a different rate than whatever the RV turns out to be. If I have $1500 worth if Dinar that is what I paid and that should be what I declare ont he form correct? Would I be a fool not to decalre and simply keep quiet? I understand this does not affect anyone sitting down in the US, only us citizins towing precious cargo I would say. Does US Customs have to be apprised of currency that I bring in that falls under the 10k threashold? Thousghts, concerns, indifferences would be appreciated. Thanks.

If you are traveling post rv,, then your total 'worth' of dinar has drastically changed and you are required by law to report it. Whether you do or not would be up to you. You could try to just play dumb and not say anything 'thinking' that the value was still <$1500 and hope you dont get checked. But if everyone and their brother is making a B line for the US, and an rv HAS happened, you can bet your ass that customs will be scrutinizing each and every passenger coming from that AO looking for just that. I've personally seen what the dinar looks like when it goes through the xray machine, and even though it only "looks" like a small book or bundle of papers (no other identifying features show up on the xray, ie metal strips), if an rv has happened and the customs agents have been made aware of it and told what to look for, it may not be as easy to get away with. You may be better off doing what p71rock suggested and use a courior, you just have to weigh the risks of all options.

JMO

trakkr

[Tico]

Okay, last post for the night...I am literally falling asleep as I am nine hours ahead of most people. I am a coin collector and the USPS. I had one PO tell me I couldd not mail coins. I mail coins to PCGS to have them graded and slabbed. I was told I could send registered mail. I will inquire if I am allowed to send that way. 50/50 chance I suspect. Thanks.

Not sure who I should also ask if there will be a potential cash in place outside the US. I work out here in Iraq and also live in Latin America...not sure if anyone knows about cashing in outside CONUS? Ideas?

[Tico]

Your advice is solid, therre is NO circumventing US Customs and I am sure they will be apprised as soon as an RV hits. Factoring the droves of us contractors hitting the eastern seabord in a frenzy will undoubtedly raise suspicion causing the government agency to quickly research and be up to speed about the re-evaluation of the IQD. Since my R&R is not till way later int he year I have to be more resourceful. I did confirm, the in theater USPS does not allow by any means necessary to ship IQD. Most couriers in my experience do not allow as well. Ah, I do have a supervisor going on R&R real soon so I wil inquire if he can take my IQD for me and ship...most people would cringe at the thought...I am taking a calculated risk...where as that risk at the present day would equate in worst case scenario as a $1500 loss. Post RV and showing up on the East Coast would result in having to pay taxes on the spot...duh like who can afford that? In retrospect it looks like I have come full circle and answered my question. I do feel sorry for personnel in Alaska that have no way to cash in other than CONUS...bringing currency from Alaska to CONUS would have to be decalred, at least I feel it should...I giess their only work around is to fly to CONUS and deposit in a bank to hold till post RV. Let me tell you this has been a learning curve eventhough it is not applicable to most...hope other contractors, DOD civilians and military figure out a way now...cheers everyone.

[average joe]

first off i have been home for a yaer now even with that said you can not take the dinar out of the country

if you try and they find it you are in big touble. i sent mine by us mail and fed ex so take your chances

good luck its not a easy thing to do .oh yea be sure be sure to pay your taxes also

[crackerman58]

Why not open a Warka account with your US address like folks back here are doing?

[hoopdog]

Hello all, not sure if anyone has any ideas on US customs and US customs ppw. The issue is one for personnel like myself, civilian contractors in Iraq coming to the US with Dinar in tow. I am deployed in Western Iraq of my own free will. When the RV happens you can understand why thousands of us contractors, military and even government workers will make a B line for the eastern seabord of the US. Picture this, we buy our Dinars at current face value, the same one you see at the CBI. That is what the local banks, yes there are more than one, Warka is not necessarily the king of the road. We also buy on base at the military finance office, same rate as CBI offers. My point is this, when the RV hits and we come in in droves will we have problems with US Customs. We obviously paid a different rate than whatever the RV turns out to be. If I have $1500 worth if Dinar that is what I paid and that should be what I declare ont he form correct? Would I be a fool not to decalre and simply keep quiet? I understand this does not affect anyone sitting down in the US, only us citizins towing precious cargo I would say. Does US Customs have to be apprised of currency that I bring in that falls under the 10k threashold? Thousghts, concerns, indifferences would be appreciated. Thanks.

I posted this just yesterday as well. Check out the sixth topic down under traveling with special items.

http://www.tsa.gov/travelers/airtravel/assistant/editorial_1169.shtm

Edited July 7, 2011 by hoopdog

[Midx1]

I have traveled back and forth on both the Delta and United flights from Dubai quite a bit in the last year with over 3 million Dinar.

Reason was I was not going to return to work if it RV while i was on my off days ha ha.

Never have I been questioned by customs or TSA both in Washington and Atlanta.

Since custom requirements requires you to claim anything over 10,000 usd in value both in USD and foreign currency I never claimed it and it has been through the x ray many times.

If this does ever R/V then you would be required to claim it on a form with US customs as it may exceed 10,000 usd.

They wont take it from you unless they find you are trying to smuggle it in and they find it.

A few years ago i had to carry 45,000 usd in cash into JFK to pay for airport fees etc for my company and any additional fuel costs.

I claimed it on the form and was never questioned about this.

What they do with these forms is any ones guess.

I for one would not bring it into the USA after the RV and would be looking for a resort island outside of Thailand,,at least until the tax issues are settled.

15% i have no problems with,,over that well i may be tempted to let my better half take the tax burden since her country has a better deal.

Hope this helps.

[The Machine]

You could try and take the chance post RV to bring the currency with you ..... if you do make damn sure you declare it to customs, if you dont and they find it .... (wait for it here's the good part) ...... they will just sieze all of it, u will be left with nothing ..... well not nothing they will issue you with a fine and you'll probably get a trip to court.

there is no avioding customs, and they are very strict to the rules.

you are probably best off having the money delivered home through fedex, I bought the majority of mine in Kuwait and just fedex'd it back to the UK, when it arrived my parcel was opened by UK customs but I had already declared that I was shipping currency so they did nothing just checked what it was and how much was there. I dont know about the customs laws in the US but I imagine they are pretty similar.

the only problem with shipping post RV is .... would you trust fedex with a parcel thats could be worth millions if the RV did go that way.

If I was you I would send it home now before anything happens, or why not cash it in there and wire the money home.

Edited July 7, 2011 by The Machine

[Midx1]

Forgot to add,,just remember for those of you contractors passing through the UAE,,they. have limits on currency exports same as the USA.

Would rather face the US Customs with this than those in the UAE as common sense does not apply to the ones here.

You could try and take the chance post RV to bring the currency with you ..... if you do make damn sure you declare it to customs, if you dont and they find it .... (wait for it here's the good part) ...... they will just sieze all of it, u will be left with nothing ..... well not nothing they will issue you with a fine and you'll probably get a trip to court.

there is no avioding customs, and they are very strict to the rules.

you are probably best off having the money delivered home through fedex, I bought the majority of mine in Kuwait and just fedex'd it back to the UK, when it arrived my parcel was opened by UK customs but I had already declared that I was shipping currency so they did nothing just checked what it was and how much was there. I dont know about the customs laws in the US but I imagine they are pretty similar.

the only problem with shipping post RV is .... would you trust fedex with a parcel thats could be worth millions if the RV did go that way.

If I was you I would send it home now before anything happens, or why not cash it in there and wire the money home.

He is correct on this,,if you don't claim it and they find it in the USA customs you could lose it all and face a big fine.

But unless you have more than 10,000 usd worth of pre R/V dinar, along with any other money,,nothing to worry about,,don't even list it on the blue customs form.

Edited July 7, 2011 by Midx1

[firefighter_218546]

I mailed some home and I carried some home. Now keep in mind if this thing does RV and you get stopped at the airport and the value of your dinar is now more than 10k you could see jail time because it's against the law to travel with more than $ 10,000 I wouldn't tell anybody about traveling with the dinar and just keep it to yourself and keep it in your checkbook like I did... But I did want to get it home before it RV'd so I wasn't traveling with more than $ 10,000 ..... Now the 10k thing was told to me I don't know if this guy was right or not...

Go RV

God Bless

[The Machine]

I mailed some home and I carried some home. Now keep in mind if this thing does RV and you get stopped at the airport and the value of your dinar is now more than 10k you could see jail time because it's against the law to travel with more than $ 10,000 I wouldn't tell anybody about traveling with the dinar and just keep it to yourself and keep it in your checkbook like I did... But I did want to get it home before it RV'd so I wasn't traveling with more than $ 10,000 ..... Now the 10k thing was told to me I don't know if this guy was right or not...

Go RV

God Bless

It's not that it's against the law to travel with more than $10K ...... what is against the law is to not declare to customs that you are entering the country with more than $10K other wise it looks like you are smuggling money into the country.

if you declare it and prove to them it was bought legitimately and is rightfully your own property there is nothing they can do, if on the other hand you try and fool them and get caught .... your in for a world of hurt.

by the way the majority of countries hold the limit of 10,000 and its 10,000 of the local currency of the country you are entering ....... so legely I could leave the UK with £10,000 but on arrining to the U.S. I would have to declare that to customs as I would be entering the US with the equivalant of $16,000 ........

Edited July 7, 2011 by The Machine

[Midx1]

One way around this if you have over 10,000 usd in salary for instance.

Say you have 18.000 usd. wire transfer 9,000 usd and take the remaining 9,000 with you in cash.

I know above 7000. usd the wallet is hard to close but its legal.

As long as you don't exceed the 92,000 usd dollar overseas expat tax exception per year you are still perfectly legal with this.

I don't know what the contractors tax exemptions are.

But for most of us working abroad we are allowed this.

I don't work for a US company and have a resident visa in the UAE.

But have been an expat working abroad since 1995.

[hoopdog]

I mailed some home and I carried some home. Now keep in mind if this thing does RV and you get stopped at the airport and the value of your dinar is now more than 10k you could see jail time because it's against the law to travel with more than $ 10,000 I wouldn't tell anybody about traveling with the dinar and just keep it to yourself and keep it in your checkbook like I did... But I did want to get it home before it RV'd so I wasn't traveling with more than $ 10,000 ..... Now the 10k thing was told to me I don't know if this guy was right or not...

Go RV

God Bless

It is not against the law to travel with more than 10K, you just have to report it and you must file a CF-4790. I posted the link to where you can find the CORRECT info. about this. The link reports the facts that you need to know and not opinions.

It is legal to transport any amount of currency or other monetary instruments into or out of the United States. However, if you transport, attempt to transport, or cause to be transported (including by mail or other means) currency or other monetary instruments in an aggregate amount exceeding $10,000 (or its foreign equivalent) at one time from the United States to any foreign place, or into the United States from any foreign place, you must file a report with U.S. Customs. This report is called the Report of International Transportation of Currency or Monetary Instruments, Customs Form 4790. Furthermore, if you receive in the United States, currency or other monetary instruments in an aggregate amount exceeding $10,000 (or its foreign equivalent) at one time which has been transported, mailed, or shipped to you from any foreign place, you must file a CF-4790. These forms can be obtained at all U.S. ports of entry and departure.

Edited July 7, 2011 by hoopdog

[Midx1]

Would be interesting to know the tax laws concerning the contractors in Iraq, since some may work for a USA company.

From what I am told they have no residents visa, but maybe i am not correct.

Dont get the wrong idea here as if they can get around the tax issue I am more than happy for them.

Since i have worked abroad there has always been just 2 ways to qualify for this exemption.

1. To work outside the USA for 330 days a year..

2. To work for a non USA company and hold legal resident visa in the country you are working in, then days spent in the USA has no limit because you are not a legal resident or work for a us company.

Hope the contractors have found a way around this tax issue,,,seeing the US government just piss a way our tax money is not a good thing.

[firefighter_218546]

Thanks, for clearing up the 10k thing for me.. like I said it was told to me this way but I didn't know if he was correct or not..

Thanks again,

Go Rv

God Bless America