Do I need to declare $20,000 when traveling from the US to Thailand, and will I be taxed on it?

Following

If you bring more than $9,999.99 you have to fill out a Large Cash Transaction Report (LCTR, form 8300). It's a big deal, and the government considers it highly suspicious of money laundering.

Sounds dodge why cant you do a bank transfer

Fly in the States with that cash and they will take it.

If you can fit $20,000 in a money belt I just might listen to you.

Honestly, if you have that much liquid cash to hide in a safe, I would invest it in gold. Thai gold is the purest in the world. Bit go to a reputable gold shop.

Wrong group!

To be totally safe report day before leaving USA on the Fincen 105. File it online and keep the receipt on your phone. I would report over $8000 just to be safe technically you can take up to $10k without issue but TSA getting full of themselves and confiscate if they feel you are doing something wrong. You’ll get it back but will cost. I would err on side of caution.

Some things to think about:

Airlines are warning passengers to beware of thieves on the plane.

More than $10K needs to be declared leaving USA and more than $5K entering Thailand.

USA travelers are reporting large quantities of cash being "confiscated " by TSA ….

You should be posting this anonymously….

Personally, I would be worried about the U.S. airports having federal marshals hunting for Civil Forfeiture opportunities. It's a small risk but I see no reason to take it. Any legally owned cash is best protected by having a banking paper trail. Your cash will roll up and down in value the same anywhere in the world until it's exchanged for other currencies. As Said this is only my personal opinion so good luck and best wishes for a happy life whatever you do. :--)

Why not leave it in an American bank until you get here, then pull it out of ATMs in smaller increments. It’d be safer.

You can wire it to your bank . ( Wise ) is a wire service

I think it 10,000. Per family . Above that you just need to declare, fill out papers but no problem.

If USA anything over $9,999. has to be reported and that is for anything coming , leaving or exchanging for any reason.

Why on earth bring $20k in cash? I only see downside. Bring at least two credit cards and two debit cards with no foreign fees. And $20k needs paperwork in the US. Sounds an insane plan to me.

J

Most of the people commenting in this thread have probably never saved $20k, much less know how to manage it.

First, do your own research and stop posting about money publicly.

Second, there is NO LIMIT on the amount of money you can bring out of the U.S. or into Thailand.

Third, you must declare to customs officers in EVERY COUNTRY anything above a certain amount, which includes currency, gold, bonds, etc - which I believe the amount is currently $10,000 USD or equivalent.

Fourth, you should be prepared to SHOW PROOF via documentation about the source of the money, such as bank statements or a sales receipt to alleviate suspicion of money laundering.

Fifth, there are NO TAXES due or payable in the U.S. or Thailand.

Finally, get a money belt. Keep it on you or directly under your control at all times.

It might be better to just deposit the money into a Wise US Dollar account earning a small amount of interest.

If you just keep money under your mattress, you will lose value every day due to inflation.

Edit: not sure why you turned off commenting, but it might be best to keep the money in short term treasury bills or a high yield savings account and just bank wire or use Wise the moment you need it.

> 9

> 5

> 6

>

Just bring it

Get a money belt and I wore the belt under my shirt were can feel it's there on the plane and during plane change.

That’s called money washing and by that you will published it 🤣😂

My friend took $10K cash and it got stolen. Just use your ATM card and see the transaction fee as an insurance policy.

It ain't Thailand that is your problem, it is the USA. Max amount without declaring is $10,000. They have cash K9 sniffer dogs as they do in the UK.

I would not carry that much cash period … why would you?

If it was at a uk airport the money dog would be sniffing round you

20.000 is a series red flag and Danger to be detained

I’ve been coming to Thailand every year since 2014, with the exception of the Covid lockdown year, and I have never declared anything, nor have I ever had my luggage checked. I’ve brought in all kinds of things, but nothing illegal. As far as money, I’ve brought in over $10K a few times, but never declared it.

You need to declare $20k USD both leaving the US and entering Thailand, not sure why you would bother

Bring 19,900 with you all the bills have to be in good condition

Why not leave in a bank account like wise earning interest rather then a safe ?

Anything 10,000 or over has to be declared if not they will seize it as drug money

Why are you bringing cash can’t you just take whatever money you need off your credit or debit card??

That’s a lot of cash to carry. Anything over $20k must be declared at customs.

I can’t legally answer the tax question but why would you have to? You’re not a “tax resident” until you spend 180 days or more in Thailand in a year.