http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2000_register&docid=00-283-filed

[Federal Register: January 6, 2000 (Volume 65, Number 4)] [Notices] [Page 806] From the Federal Register Online via GPO Access [wais.access.gpo.gov] [DOCID:fr06ja00-73]

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DEPARTMENT OF THE TREASURY

Submission for OMB Review; Comment Request

December 28, 1999. The Department of Treasury has submitted the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before February 7, 2000, to be assured of consideration.

Financial Crimes Enforcement Network (FinCEN)

OMB Number: New (Formerly under 1515-0079). Form Number: Customs Form 4790. Type of Review: Extension. Title: Report of International Transportation of Currency or Monetary Instruments (CMIR). Description: Persons transporting into or out of the United States (and persons receiving in the United States) more than $10,000 in currency or monetary instruments must file a CMIR. Respondents: Individuals or households, business or other for- profit. Estimated Number of Respondents: 180,000. Estimated Burden Hours Per Respondent: 11 minutes. Frequency of Response: On occasion. Estimated Total Reporting Burden: 33,000 hours. Clearance Officer: Lois K. Holland, (202) 622-1563, Departmental Offices, Room 2110, 1425 New York Avenue, NW., Washington, DC 20220. OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of Management and Budget, Room 10202, New Executive Office Building, Washington, DC 20503. Lois K. Holland, Departmental Reports Management Officer. [FR Doc. 00-283 Filed 1-5-00; 8:45 am] BILLING CODE 4810-31-U

-- Hokie (Hokie_@hotmail.com), January 10, 2000

Answers

This IS old news,

I traveled 15 years ago overseas and this was a requirement then upon entering the US you where to declare every monetary means ( cash, checks, or other) you bring in that exeeds $10000.

-- RickJohn (rickjohn1@yahoo.com), January 10, 2000.

Very old news - In fact, I used to work for the Bureau of Prisons and at our contract facility there were two or three people incarcerated because they didn't declare their $10,000+ when they crossed the border. Naturally it gets confiscated too. That's pretty hazardous stuff for the paranoid, mattress stuffing people to lose their savings and go to prison because they didn't want to declare. If I remember correctly they were people that didn't like banks because back in their old country they were unreliable and not dope dealers.

-- Guy Daley (guydaley@bwn.net), January 10, 2000.

More Old News, for New Readers-- On the domestic front, there is of course the requirement for a Cash Transaction Report (CTR) if you decide to withdraw $10,000 or more of your own money. Here's snip from what The Money Changer had to say about with drawing cash:

I'm not an attorney & don't presume to give legal advice, but as I understand it the law requires reporting by a Cash Transaction Report (CTR) whenever someone withdraws more than $10,000. Shortly after that law was installed, congress added the crime of "structuring," i.e., ordering your transactions to avoid the reporting requirement. It is the crime of structuring if you intend to withdraw F$12,000 in total, & withdraw F$2,000 a day over six days in "related transactions" to avoid the reporting requirement, for example. The danger is that federal courts in most jurisdictions have interpreted these statutes & regulations as "strict liability statutes." That means that intent (mens rea) is not necessary to break the law. In fact, you don't even need to know that it was a crime. The law is being interpreted exactly like a speeding law -- if the speed limit is 40 & you are driving 50, you're "guilty" whether (1) you intended to break the law or not, & (2) whether you knew the speed limit was 40. When people to go to their ATMs & withdraw as much as they can in several transactions, if they intend to withdraw more than F$10,000 in total, that could be interpreted as the crime of "structuring," even though they have no criminal intent or the money is not the proceeds of some specified criminal activity. (Of course, if you make a habit of withdrawing F$1,000 every time you get paid, or you and your wife decide to cut up your credit cards and go on a completely cash budget, I suppose that wouldn't be structuring, but who knows? I'm not weaseling here, the law is just that vague.)

So, there you have it. Just remember that:
(1) it's not really your money, it's Ours--
(1) everone is a suspect, and--
(2) innocence is no excuse, because--
(3) you are guilty until proven innocent (if We feel like it)

-- Cherokee (Cherokee@qtmail.com), January 10, 2000.

For many of us, it isn't much of an issue, because we don't have that much in one place...or at all. (Having a taken a vow of poverty or having an ex- can be about the same...)

-- Mad Monk (madmonk@hawaiian.net), January 10, 2000.