FinCEN isn’t dead, it is just off the registration harassment of small business owners. If you are transporting over $10,000 in or out of the US, FinCEN has new regulations and you are required to file a FinCEN Form 105 – Report of International Transportation of Currency or Monetary Instruments (CMIR).

Specifically, the regulations require each person who physically transports, mails, or ships; or causes to be physically transported, mailed, or shipped; or attempts to physically transport, mail, or ship; or attempts to cause to be physically transported, mailed, or shipped, currency or other monetary instruments in an aggregate amount exceeding $10,000 to file a CMIR.

The regulations also require that each person who receives in the U.S. currency or other monetary instruments in an aggregate amount exceeding $10,000 at one time which have been transported, mailed, or shipped to such person from any place outside the United States, to file a CMIR if a CMIR has not already been filed on the instruments.

This doesn’t apply to most of us, but don’t get caught by FinCEN. It is the Financial Crimes Enforcement Network.

Lee Phillips