Frequently Asked Questions

Monetary instruments

1. What are monetary instruments?
   
   Monetary instruments are stocks, bonds, treasury bills, bank drafts, promissory notes, and money orders, in bearer form or in such other form that title passes on delivery. They also include unsigned traveller's cheques and endorsed cheques.
   
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2. When are monetary instruments in bearer form?
   
   Monetary instruments are in bearer form when they are blank (when the owner's name does not appear on the instruments) or when they are "payable to the bearer." This means that anybody can bring the monetary instruments to a financial institution to cash them.
   
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3. Do I have to report cheques?
   
   You have to report endorsed cheques. You do not have to report cheques with a restrictive endorsement (e.g., "to be deposited in account no. 123").
   
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4. Do I have to report incomplete cheques and money orders?
   
   Report cheques and money orders if they bear an amount and are signed but have no payee. In all other cases, you do not have to report them.
   
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5. Do I have to report shares?
   
   You have to report shares that are endorsed without restriction.
   
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6. I am shipping monetary instruments that are not endorsed but have a power of attorney enclosed. Do I have to report them?
   
   No. A power of attorney does not make the monetary instruments negotiable.
   
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