Dear Vessel Agents,
This email serves as an urgent and specific reminder regarding U.S. Customs and Border Protection (CBP) requirements for reporting currency and monetary instruments exceeding $10,000 when entering or departing U.S. ports. Strict compliance with these regulations is paramount for all vessels, their operators, crew, and passengers, to avoid significant penalties and operational delays.

• Requirement to File FinCEN Form 105 for Maritime Operations: Under U.S. law, any person who physically transports, or causes to be transported, currency or other monetary instruments in an aggregate amount exceeding $10,000 at one time, onboard a vessel into or out of the United States, must file FinCEN Form 105, "Report of International Transportation of Currency or Monetary Instruments." This applies to:
  • Vessel Masters and Operators: For company funds, payroll, or any other monetary instruments under their control or being transported on behalf of the vessel's operations.
  • Crew Members: For personal funds or funds, they are transporting on behalf of others.
  • Passengers: For personal funds or funds, they are transporting.

The $10,000 threshold applies to the total amount carried by an individual or by members of a group traveling together on the vessel.
What Constitutes Reportable Currency/Monetary Instruments in the Maritime Context: The threshold of $10,000 applies to the total amount. Reportable items include, but are not limited to:

• U.S. or foreign currency (e.g., cash carried by crew or passengers, or company funds).
• Traveler's checks.
• Money orders.
• Negotiable instruments in bearer form (e.g., certain checks, promissory notes).
• Securities in bearer form (e.g., stock certificates).

When and Where to File for Vessels:

• At U.S. Ports of Entry/Departure: The FinCEN Form 105 must be filed with a CBP officer at the time the vessel arrives in a U.S. port or prior to its departure from a U.S. port.
• Declaration: It is crucial that the Master of the vessel, or the individual transporting the currency, declares the presence of such funds to the inspecting CBP officer.
• Electronic Filing: While paper forms are available, electronic filing is strongly recommended via the official FinCEN Form 105 website and can be completed in advance.
• Paper forms: Must be presented to CBP officers during inspection. **Foreign departures requiring the FinCEN to be filled must be emailed to both CHARLESTONVEC@cbp.dhs.gov and CharlestonAirport@cbp.dhs.gov in a timely manner to facilitate verification, if necessary, prior to the vessel’s and/or individual(s) departure.**

Penalties for Non-Compliance: Failure to file a required report, filing a report with material omissions or misstatements, or filing a false or fraudulent report can lead to severe consequences, including:

• Seizure and Forfeiture: The currency or monetary instruments themselves can be seized and forfeited.
• Civil Penalties: Significant monetary fines can be imposed.
• Criminal Prosecution: Individuals may face criminal charges, resulting in fines and imprisonment.
• Vessel Delays: Non-compliance can lead to extensive delays for the vessel, impacting schedules and incurring additional costs.

We strongly urge all vessel agents to proactively inform and ensure that all vessel operators, masters, crew members, and passengers under your purview are fully aware of and comply with these critical reporting requirements. Your diligence helps prevent enforcement actions and ensures smooth port operations.
Sincerely,
 
Chris Schicker, CBPO on behalf of (A) Chief Victor E. Silverio
U.S. Customs and Border Protection
Area Port of Charleston, SC