Re-entering Canada with money

[kabana]

Hello every body.

I would be grateful if any one tell me what to do at the airport if I am re-entering Canada with more than 10000 Canadian Dollars.

 

[steaky]

declare them to the Customs Officer

 

[toby]

If it is a lot more, you may be asked to prove its source -- e.g. sale of a house (bring sales contract, and maybe a copy of the certified cheque; or sale of drugs (don't try it). For large amounts of money, it wojudl raise fewer questions if you wired the funds from a bank into your Canadian bank account. Yes, the Canadian bank will report the receipt to FINTRAC, but it will know the money came from another bank which (presumably) vetted the source before accepting the deposit in the first place.

 

[steaky]

Generally, no questions being asked if wired funds from a bank into your Canadian bank account.

 

[kabana]

Thanks guys. what if the amount of money is about twenty thousand?.

 

[steaky]

It's the same thing. You have to declare any amounts more than $10,000 when you bring in person.

 

[toby]

Thanks guys. what if the amount of money is about twenty thousand?.

Won't raise an eyebrow. Amounts of a few millions might.

 

[Ian C.]

Toby/Steaky,
Do they ask any questions when first landing if my wife (principle applicant - FAM - spouse) bring a bank draft cheque more than 50K Canadian dollar for the settlement fund ? in addition to it ,what about the TT to Canadian bank later for another 30K ? do I need to declare in B4 form (things to follow ??) for the second TT arrangement.

need advise.. thanks,,

 

[PMM]

Hi

Toby/Steaky,
Do they ask any questions when first landing if my wife (principle applicant - FAM - spouse) bring a bank draft cheque more than 50K Canadian dollar for the settlement fund ? in addition to it ,what about the TT to Canadian bank later for another 30K ? do I need to declare in B4 form (things to follow ??) for the second TT arrangement.

need advise.. thanks,,

\\

1. No, as long as you declare all your funds if you are carrying over $10K, and it doesn't appear to be the proceeds of crime.
2. No, you don't declare money on a B4. If it is bank transfer, then you don't have to do anything, the Bank reports it to FinTrac.

 

[Ian C.]

PMM,
thanks for your useful information. but can you elaborate more about item 2, you say nothing to do for transferring money from TT or bank draft or wired transfer, it will definitely report to FinTrac. Do FinTrac will ask me the source of this fund come from later on ? do I need to retain some legal documents to prove my huge fund come from ? e.g. buy the property from my home country one year later I landed to Canada.

need your advise.. Thanks.. Ian

 

[Ian C.]

PMM,

sorry.. refer to my recent reply, I mean selling my property.

Ian

 

[PMM]

Hi

PMM,

sorry.. refer to my recent reply, I mean selling my property.

Ian

1. You keep the bill of sale for the property, so if you asked, you have it.
2. Travel Cheques/DD or Bank Draft you report on entry if over $10k as if you were carrying cash.
3. Wire transfer reporting is looked after by the receiving bank, you don't have to do anything.