[Code of Federal Regulations]

[Title 31, Volume 1]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR103.23]



[Page 388-389]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

                       DEPARTMENT OF THE TREASURY

 

PART 103_FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN 

TRANSACTIONS--Table of Contents

 

                  Subpart B_Reports Required To Be Made

 

Sec. 103.23  Reports of transportation of currency or monetary 

instruments.



    (a) 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 at one time from 

the United States to any place outside the United States, or into the 

United States from any place outside the United States, shall make a 

report thereof. A person is deemed to have caused such transportation, 

mailing or shipping when he aids, abets, counsels, commands, procures, 

or requests it to be done by a financial institution or any other 

person.

    (b) 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 with respect to which a report has not been 

filed under paragraph (a) of this section, whether or not required to be 

filed thereunder, shall make a report thereof, stating the amount, the 

date of receipt, the form of monetary instruments, and the person from 

whom received.

    (c) This section shall not require reports by:

    (1) A Federal Reserve;

    (2) A bank, a foreign bank, or a broker or dealer in securities, in 

respect to currency or other monetary instruments mailed or shipped 

through the postal service or by common carrier;

    (3) A commercial bank or trust company organized under the laws of 

any State or of the United States with respect to overland shipments of 

currency or monetary instruments shipped to or received from an 

established customer maintaining a deposit relationship with the bank, 

in amounts which the bank may reasonably conclude do not exceed amounts 

commensurate with the customary conduct of the business, industry or 

profession of the customer concerned;

    (4) A person who is not a citizen or resident of the United States 

in respect to currency or other monetary instruments mailed or shipped 

from abroad to a bank or broker or dealer in securities through the 

postal service or by common carrier;

    (5) A common carrier of passengers in respect to currency or other 

monetary instruments in the possession of its passengers;

    (6) A common carrier of goods in respect to shipments of currency or 

monetary instruments not declared to be such by the shipper;

    (7) A travelers' check issuer or its agent in respect to the 

transportation of travelers' checks prior to their delivery to selling 

agents for eventual sale to the public;

    (8) By a person with respect to a restrictively endorsed traveler's 

check



[[Page 389]]



that is in the collection and reconciliation process after the 

traveler's check has been negotiated,

    (9) Nor by a person engaged as a business in the transportation of 

currency, monetary instruments and other commercial papers with respect 

to the transportation of currency or other monetary instruments overland 

between established offices of banks or brokers or dealers in securities 

and foreign persons.

    (d) A transfer of funds through normal banking procedures which does 

not involve the physical transportation of currency or monetary 

instruments is not required to be reported by this section. This section 

does not require that more than one report be filed covering a 

particular transportation, mailing or shipping of currency or other 

monetary instruments with respect to which a complete and truthful 

report has been filed by a person. However, no person required by 

paragraph (a) or (b) of this section to file a report shall be excused 

from liability for failure to do so if, in fact, a complete and truthful 

report has not been filed.



(Approved by the Office of Management and Budget under control number 

1505-0063)



[37 FR 26517, Dec. 13, 1972, as amended at 50 FR 18479, May 1, 1985; 50 

FR 42693, Oct. 22, 1985; 53 FR 4138, Feb. 12, 1988; 54 FR 28418, July 6, 

1989]