FinCEN form 105 ?

[Johnny Rogers]

Do I need to complete FinCEN form 105?

I wired funds from my US bank account to my Canadian bank account, probably 10 different transactions (and a few were via ACH); totaling around $300K US. These were sent via a foreign exchange company. I own both the US and Canadian accounts. Do I need to complete FinCEN form 105?

Edit:   Maybe my question is answered by the instructions on the back of the form. Near the top (under ("Who must file") there's a bolded text "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." Okay, I'll go with that, even though I'm not sure that "forex" are "normal banking procedures" like in the sense that EFT, ACH, checks, etc, are. (Although a check, money order, etc, sent by mail to outside of the US, then form 105 is required).

[MaryK4 · Accepted solution]

You are correct, the FINCEN 105 is used to report cash transfers generally,

(1)Each person who physically transports, mails, or ships, or causes 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, and

(2) Each person who receives in the United States currency or other monetary instruments In an aggregate amount exceeding $10,000 at one time which have been transported, mailed, or shipped to the person from any place outside the United States.