Legal basis for Malaysia’s cash declaration
- Bank Negara Malaysia enforces a New Currency Declaration Requirement effective 01 January 2010.
- The declaration is made to Royal Malaysian Customs.
Mandatory declaration threshold and trigger
- Persons entering or leaving Malaysia with cash and/or bearer negotiable instruments exceeding an amount equivalent to USD 10,000 must declare the amount.
- The obligation applies when the traveler carries cash and/or bearer negotiable instruments above the USD 10,000 equivalent threshold.
Where and how to declare
- Declarations must be made to Royal Malaysian Customs.
- The declaration is filed using Customs Form 22.
- Customs Form 22 is available at all major entry and exit points in Malaysia.
Penalties for non-declaration or false declaration
- Non-declaration or making a false declaration carries a maximum penalty of RMI million and/or imprisonment of not more than one (1) year.
- The penalty is stated as a maximum fine of RMI million and/or imprisonment not exceeding one (1) year.
Required action by covered OWWA workers
- All workers bound for Malaysia must comply with the Malaysia cash and/or bearer negotiable instruments declaration requirement.
- Workers must declare amounts exceeding USD 10,000 equivalent using Customs Form 22 at Royal Malaysian Customs at major entry and exit points.