Do I need to speak with an attorney if I want to cash foreign currency? 3 Answers as of January 25, 2011

Do I need to speak with a lawyer about cashing Iraqi Dinar? What forms do I need to fill out so that my money is not considered illegal money for tax purposes?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Givner & Kaye
Givner & Kaye | Bruce Givner
Unless it's over $10,000, in which a form must be filed, I don't think you need to consult with counsel.
Answer Applies to: California
Replied: 1/25/2011
LT Pepper Law
LT Pepper Law | Luke T. Pepper
Currency is not illegal. You can cash in currency up to IRS limits. If it is a limited amount, there is no real issue.
Answer Applies to: Pennsylvania
Replied: 1/24/2011
Meyer & Yee, LLP
Meyer & Yee, LLP | Kent W. Meyer
It is not illegal to convert money. Did you report it on your customs form when you brought it into the country? If you did, you should have no problem making the transaction at the bank.
Answer Applies to: California
Replied: 1/24/2011
Click to View More Answers: