Banking Bringing Dollars from USA

[RedDave]

Hey everyone. I know that the dollar/peso conundrum is often discussed, but I'm hoping you can help me with a question. I just signed a lease for an apartment and agreed to pay in US dollars. I knew this would be difficult, but I didn't realize quite how difficult.

I have a friend from the US visiting me in Buenos Aires next month and I would like to have him bring me about $8,000 USD in cash. I realize that this is uncomfortable for him, but are there any legal restrictions for it? Is this likely the best way for me to get a significant amount of USD or will be likely be questioned at the airport? I don't want to put him in a bad position.

Thank you!!

 

[TechNow]

Hey everyone. I know that the dollar/peso conundrum is often discussed, but I'm hoping you can help me with a question. I just signed a lease for an apartment and agreed to pay in US dollars. I knew this would be difficult, but I didn't realize quite how difficult.

I have a friend from the US visiting me in Buenos Aires next month and I would like to have him bring me about $8,000 USD in cash. I realize that this is uncomfortable for him, but are there any legal restrictions for it? Is this likely the best way for me to get a significant amount of USD or will be likely be questioned at the airport? I don't want to put him in a bad position.

Thank you!!

You can bring in up to $10,000 USD in cash without having to give explanations. And it is 100% legal. Go for it.

 

[FeedLaps]

Hey! I just got back from abroad so decided to come Back with US dollars, 8000 to be exact! I was super nervous about it although it isn't illegal! The customs paper I had to fill out has changed from 10 months ago, first question was if I have more then 10.000usd, so i checked off "no" than the second question is how many US dollars u have with u! I didn't know what to write so I didn't reply to that question, then I went through customs and guess what, as I handed her my passport with the customs paper in it, she handed me back the paper and didn't even look at it!??!
Maybe it was luck but I wouldn't worry as he's a tourist and can easily say he brought the money to spend here... Of they ask!

 

[NigjeFs]

The problem is not about bringing money in, moreover they are happy about it, the thing is to leave Arg with usd.

 

[HansonYes]

This is perfectly legal, I've had people do it for me as well. Each time,I've written up something that explains the bank transfer to their account so that they do not have problems with the IRS in the future. Just a quick document with all the acct numbers, reason for the transfer and date. They probably won't need it but they should keep it for the next 7 years just in case. I would also have them sign a copy for you, and get a copy of their passport with the entry stamp into Argentina. You never know when you might need documentation of these kinds of things in the future.

 

[MDirtBoy]

I would never tell Aduana how much $US I had on me coming through EZE. I might put something like $300US and leave it at that. Also, you might want to hire a remis for him from the airport to your place. Not that expensive and safer than taxis.

 

[earlyretirement]

This is perfectly legal, I've had people do it for me as well. Each time,I've written up something that explains the bank transfer to their account so that they do not have problems with the IRS in the future. Just a quick document with all the acct numbers, reason for the transfer and date. They probably won't need it but they should keep it for the next 7 years just in case. I would also have them sign a copy for you, and get a copy of their passport with the entry stamp into Argentina. You never know when you might need documentation of these kinds of things in the future.

Yes it's legal but you have to understand that the problem isn't the explained cash withdrawals (via your documents). The PROBLEM is that the bank reports any big cash transactions and it doesn't even need to be for the full $10,000.

And the problem isn't just getting audited for one year. But if you get audited one year, you can end up staying in the radar of the IRS and get subsequent future audits.

Even if you aren't cheating on your taxes, it's still a major pain to get audited sometimes. And worse getting audited in subsequent years. So you really have to factor in the risk/reward ratios of this.

And keep in mind even if you have very qualified accountants, the IRS typically can find a way to interpret your tax return differently so you owe more than what you paid.