Malaysia cash declaration rules

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OWWA PDOS ADVISORY NO. 01, S. of 2010: Malaysia cash declaration rules

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Title Supreme Court: Malaysia cash declaration rules

Law: Owwa Pdos Advisory No. 01, S. Of 2010

Decision Date: Feb 16, 2010

Effective January 1, 2010, all individuals entering or leaving Malaysia must declare cash or bearer negotiable instruments exceeding USD 10,000 to avoid penalties of up to RM1 million and/or one year of imprisonment, as mandated by the Central Bank of Malaysia.

currency declaration

administrative law

legal obligation

A

Currency Declaration Requirement

Effective from January 1, 2010.
All persons carrying cash and/or bearer negotiable instruments exceeding the equivalent of USD 10,000 must declare such amount.
Declaration must be made to the Royal Malaysian Customs.
Customs Form 22 is used for this declaration and is available at all major Malaysian entry and exit points.

Penalties for Non-Compliance

Failure to declare or providing a false declaration is an offense.
Penalty includes a fine of up to RM1 million.
Imprisonment of up to one (1) year may also be imposed.

Enforcement Authority and Administrative Note

Enforcement is conducted by the Central Bank of Malaysia (Bank Negara Malaysia) and Royal Malaysian Customs.
The advisory was issued by the Overseas Workers Welfare Administration (OWWA) to inform Filipino workers.
Compliance is strongly encouraged to avoid legal sanctions.

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