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Travelling with CAD$10,000 or more? Sending it by mail or courier? Declare it

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.

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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:

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:

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:

  1. complete this general form and place it inside your parcel
  2. 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:

  1. complete this general form and submit a copy of it to the nearest CBSA office
  2. 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:

  1. complete a courier form
  2. 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:

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

Related link

Cross-Border Currency and Monetary Instruments Reporting Regulations

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