Legal Question in Tax Law in California

If you are obeying the law and paying taxes on your worldwide income as U.S. nationals are required to do, you should have no difficulty repatriating your funds by cash, check, or wire transfer. If you carry $10,000 USD or more (or the foreign equivalent) in cash or bearer instruments into the U.S., you must report this to U.S. Customs when you arrive. You may, of course, also encounter Peruvian laws and Peruvian border officials. You could purchase bank checks or traveler's checks in Chile totaling $10,000 USD, or in any amount, complete the payee line, and then bring or mail them here. Checks that are made out in an individual's name need not be reported - only "Cash" or "Pay to Bearer" checks which would include blank travelers' checks. The gift tax exclusion applies whether you mail them $10,000 checks from Chile or hand them $10,000 cash when you get here. If you do a cash transaction within the U.S. of $10,000 or more, for example you give $10,000 cash as a gift, you must complete and file a Currency Transaction Report.