The penalties for failing to report have changed
Penalties for seized currency or monetary instruments equivalent to CAD$10,000 or more are now in effect and range from 5% to 50% of the total value.
It should be noted that CBSA will not return funds if it is suspected they are proceeds of crime or funds for financing terrorist activities.
There are no restrictions on the amount of money you can bring into or take out of Canada, and it is not illegal to do so, as long as you declare it.
This applies to all travellers, couriers and to people carrying money on behalf of someone else.
On this page
- What to declare
- How to declare your money when you enter or leave Canada
- Sending money to or from Canada by mail
- Sending money to or from Canada by courier
- If you fail to report (penalties)
- What happens to your report
- Contact us
- Related link
What to declare
Whether you are leaving or entering Canada, you must declare any currency (cash) or monetary instruments valued at CAD$10,000 or more that you are carrying. This amount includes Canadian or foreign currency or a combination of both.
Monetary instruments include, but are not limited to:
- stocks
- bonds
- bank drafts
- cheques and traveller's cheques
You must also declare funds you send to or from Canada by mail or by courier.
How to declare your money when you enter or leave Canada
If you are carrying CAD$10,000 or more of your own money when entering or leaving Canada, complete this form for individuals and be ready to present it when you travel.
If you are carrying money on behalf of someone else, complete this general form and be ready to present it when you travel.
Arriving in Canada
If you are carrying CAD$10,000 or more you must report it at:
- an airport kiosk
- on your CBSA Declaration Card (if one was provided to you)
- through your Advance Declaration, or
- as part of your verbal declaration to a border services officer
Leaving Canada
When leaving by air carrying CAD$10,000 or more, you must report to the CBSA office at the airport, before clearing security. Before leaving by land, boat or rail, report to the nearest CBSA office.
Important information for NEXUS members
If you are crossing the border with currency or monetary instruments valued at CAD$10,000 or more, you cannot use NEXUS.
More information: NEXUS Terms and conditions
Sending money to or from Canada by mail
If you are sending CAD$10,000 or more in currency or monetary instruments to Canada by mail:
- complete this general form and place it inside your parcel
- attach a Universal Postal Convention (UPC) declaration, available at your nearest postal office, to the parcel
If you are sending CAD$10,000 or more in currency or monetary instruments from Canada by mail:
- complete this general form and submit a copy of it to the nearest CBSA office
- attach a Canada Post Customs Declaration form (CN23), available at your nearest postal office, to the parcel
Additional postal requirements may exist. Contact Canada Post for more information.
Sending money to or from Canada by courier
If you are sending CAD$10,000 or more in currency or monetary instruments to or from Canada by courier complete this general form.
You must give this completed form to the person in charge of the conveyance or the courier. They will:
- complete a courier form
- attach it to your general form
If you fail to report
The CBSA has the authority to seize all currency and monetary instruments if the entire value is not reported. They may be returned after a penalty is paid.
Penalties
Penalties range from 5% to 50% of the seized funds. The CBSA will not return the funds if it is suspected they are the proceeds of crime or funds for financing terrorist activities.
If you wish to dispute the seizing of funds, you may file a review.
Why you need to report
Reporting currency is an important part of helping CBSA fight money laundering and terrorist financing.
The CBSA administers and enforces legislation to help the Government of Canada to:
- detect and deter money laundering and terrorist financing activities
- facilitate the investigation and prosecution of related offences
- respond to the threat posed by organized crime
- fulfill international commitments to fight transnational crime
More information: Proceeds of Crime (Money Laundering) and Terrorist Financing Act (justice.gc.ca)
What happens to your report
Your completed forms are sent to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for assessment and analysis.
The information provided on the currency reporting forms is subject to the Privacy Act and is collected under the authority of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
Contact us
- FINTRAC
- Border Information Service, by telephone
Related link
Cross-Border Currency and Monetary Instruments Reporting Regulations
