PHILADELPHIA: A Philadelphia area man is out $50,000 after failing to properly report the money on his way home from Frankfurt, Germany, according to U.S. Customs and Border Protection.
There is no limit on how much currency travelers may bring into or take from the United States, but federal law requires travelers to complete financial reporting forms for any amount that exceeds $10,000 in U.S. dollars or equivalent foreign currency.
Travelers who refuse to comply with federal currency reporting requirements risk having their currency seized, and may potentially face criminal charge.
