It is important to familiarize yourself with the rules regarding the export and import of currency to/from your destination country. Many countries have restrictions on the amount of currency or other monetary instruments that can be exported and most have some form of currency-reporting requirements. In the United States, there is no restriction on the amount of currency or monetary instruments that can be exported or imported, but amounts over $10,000 must be reported to U.S. Customs and Border Protection.
Some projects abroad may require a bank account outside the US. It is critical to remember that only the Office of Finance under the Pitt CFO can set up an account and that office should be consulted prior to contacting a bank.
Structuring cash transactions or the transportation of currency in such a way as to avoid the reporting requirements is prohibited under U.S. law and by most other countries.
Contact
For more information on currency and foreign bank account reporting, or to answer any questions, please contact the following: