Declaring over $10,000 cash flying into the U.S

What happens when I do? Do I pay duty?

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I'm going to the states to buy a house. I'm going to pay cash and want to take it with me. When I declare that I have 150,000 cash. What happens? Do I have to pay a duty? I don't think so... but why must I declare if there is no duty to pay?
Yes you have to pay tax.
Why would I pay tax? I've already paid my tax when I earned it.
Why on earth do you want to tote that much cash around with you? When do you plan on leaving? Need a lift to the airport in the trunk of my car?
10. How much cash may I bring with me for my trip?
There is no limit on the total amount of money or monetary instruments that may be brought into or taken out of the United States. However, if you transport or cause to be transported, more than $10,000 in monetary instruments on any occasion into or out of the United States, or if you receive more than that amount, in behalf of someone else and then transport it, you must file a Customs Form 4790 with U.S. Customs. Failure to comply can result in civil and criminal penalties, including seizure of the currency or monetary instruments. Monetary instruments include U.S. or foreign coins, currency, traveler's checks, money orders, and negotiable instruments or investment securities in bearer form are all considered when determining the total $10,000 reporting requirement.
US Embassy

You must do paperwork in advance, if not you get fined, not taxed my bad.

You also have to submit proof its your income, ie bank statements.
er, I hate to mention it, but what if the plane crashes?...
Simple, I don't trust banks.
If you cant prove the money is your you cannot take it into the US. The integral function of this customs declaration is to prove th cash is your and properly taxed, if you cannot prove that, it will not be allowed. If you try to do it anyway they can seize the money and charge mad fees and penalties.

And they will check you.
Don't declare it and get caught = Forfeit all of it..

And don't think you can sneak it in. CBP also train their dogs to sniff out large wads of cash in addition to drugs, Fruit and Veg.
Yep, I don't trust banks - I think posting on the internet that I'll be travelling with 150k is much MUCH safer. Good call.
Who said she is leaving with $ 150,000? I say she is leaving with empty suitcases and a parachute as her carry on.
and another lovely thought

Customs and Border Protection (CBP) does not collect duty on currency. However, travelers leaving or entering the U.S. are required to report negotiable monetary instruments (i.e. currency or endorsed checks) valued at $10,000 or more on a "Report of International Transportation of Currency or Monetary Instruments" form FinCEN 105.

You can obtain the form in advance and download it from here FinCEN 105, or a CBP officer can give it to you upon your departure or return to the U.S.

Failure to declare currency in amounts of over $10,000 can result in its seizure.

Information on the FinCEN 105 is provided to the IRS, and they determine whether or not the importation of monies constitutes income subject to taxation.

The requirement to import currency on a FinCEN 105 does not apply to imports of gold bullion.
Us Cutoms & Border protection
C-cup give it to me - I will take it for you - I am not afraid - just PM me.
If you don't trust me then just send it Western Union - that would be a fun transaction to watch.
<sarcasm> You need to post your flight information like this guy did. </sarcasm>.
Well now she's asking about taking a parachute on a plane as a safety precaution, it just keeps getting more interesting.

I would love to see the custom officials face when someone shows up with 150k in unreported currency with a damn parachute.
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