Taking money to India

Chicago Desi · Post by **Chicago Desi** » Fri Nov 16, 2007 10:45 pm

One of my relatives is leaving for India for a few months on sunday. She wants to take some $13,500 with her so that she can use that money there. She is concerned that she can take only $10,000 with her legally.

She is considering taking a cashier's check or certified check. What is the best way to take the money with her? She cannot make a bank transfer because the HDFC bank in India did not give her the accurate swift code and she is not sure how that will work. If it does not, she will not be here to rectify anything that may go wrong.

Please suggest best way to take the money to India legally.

Ace Novice · Post by **Ace Novice** » Fri Nov 16, 2007 11:12 pm

She can take more than $10000 but she has to file FinCEN Form 105 with US Customs before the aircraft leaves USA. Don't try to file it at the airport as she could run out of time. Have her mail it in ahead of time.

Also, because it is in excess of $10000, she has to file a declaration at Indian Customs upon arrival.

Chicago Desi · Post by **Chicago Desi** » Fri Nov 16, 2007 11:16 pm

Ace Novice;58241She can take more than $10000 but she has to file FinCEN Form 105 with US Customs before the aircraft leaves USA. Don't try to file it at the airport as she could run out of time. Have her mail it in ahead of time.

Also, because it is in excess of $10000, she has to file a declaration at Indian Customs upon arrival.[/quote]

Thanks much for your response.

What are the implications of these two? Are there any fees involved at any point in time? Will it take a lot of time (or any money) when she declares at Indian customs?

What if she does not declare? What are the implications of that?

Desi_by_Nature · Post by **Desi_by_Nature** » Fri Nov 16, 2007 11:20 pm

Take it illegally - what's the big deal?

There are hundreds of places one could hide the remaining $3,500 travellers cheques - socks, underwear, secret pockets in suitcases. Or if she's carrying a laptop, just unscrew the LCD panel, slip in a couple of TCs and screw it back up - no one will ever guess and the laptop will continue to work fine.

Ace Novice · Post by **Ace Novice** » Fri Nov 16, 2007 11:27 pm

Chicago Desi;58242... What are the implications of these two? Are there any fees involved at any point in time? Will it take a lot of time (or any money) when she declares at Indian customs?

What if she does not declare? What are the implications of that?[/quote]

There are no fees for declarations filed at either the points of departure or arrival. Have her mention to the Indian Customs official she needs to declare some currency. They will give her a form where she enters a few details and presents the form (and the cash/ TCs if asked for) and passport. Time at Indian customs for this task is negligible, probably an additional 15 to 30 minutes.

I do not know the penalties for non-declaration in India. In the USA, the penalties include confiscation of the money and/ or imprisonment. The law targets drug runners, etc. so I can't see your relative with $13500 attracting much attention but nevertheless she would be in violation of the law.

Ace Novice · Post by **Ace Novice** » Fri Nov 16, 2007 11:30 pm

Desi_by_Nature;58245Take it illegally - what's the big deal?

There are hundreds of places one could hide the remaining $3,500 travellers cheques - socks, underwear, secret pockets in suitcases. Or if she's carrying a laptop, just unscrew the LCD panel, slip in a couple of TCs and screw it back up - no one will ever guess and the laptop will continue to work fine.[/quote]

If you want to take it illegally, no such theatrics are warranted. You could put it in your pocket too. The problem arises if you are flagged for a search on suspicions of smuggling (other than curry powder).

Chicago Desi · Post by **Chicago Desi** » Fri Nov 16, 2007 11:31 pm

Ace Novice;58241 Have her mail it in ahead of time.
[/quote]

Great info. Thanks.

One last question. You mention mailing ahead of time. She is leaving this sunday. So she may not have enough time to mail it in. Should she fill it in now and carry to the airport? Who does she hand it to?

BTvm · Post by **BTvm** » Fri Nov 16, 2007 11:34 pm

Best option would be to create an account with REMIT2INDIA.com and use their service to move money to the home address in India.REMIT2INDIA would send demand drafts if you provide address.

Cheers

Chicago Desi · Post by **Chicago Desi** » Fri Nov 16, 2007 11:39 pm

BTvm;58255Best option would be to create an account with REMIT2INDIA.com and use their service to move money to the home address in India.REMIT2INDIA would send demand drafts if you provide address.

Cheers[/quote]

What are the costs involved? How quickly can she have access to the money? How long will it take to do this transaction.

Ace Novice · Post by **Ace Novice** » Fri Nov 16, 2007 11:39 pm

Chicago Desi;58254Great info. Thanks.

One last question. You mention mailing ahead of time. She is leaving this sunday. So she may not have enough time to mail it in. Should she fill it in now and carry to the airport? Who does she hand it to?[/quote]

She has to hand it over to the Customs office at the US international airport she is departing from. The office could be located in a forgotten part of the airport (or so it seems) so have her get there ahead of time or call ahead and find out the location.

The form, information, and instructions are at:

http://www.fincen.gov/fin105_cmir.pdf