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Thread: Cashing out in US as a Canadian

  1. #1


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    Cashing out in US as a Canadian

    Does anyone know the process and any tips for a Canadian that wishes to play blackjack in the US casinos? I've played small stakes in Seattle, for a weekend. The bankroll has grown and I am curious how the procedure will be, say if I have over 15k in chips and a CTR has to be filled out.

    Will casinos hold 30% of the winnings? Is there a tax form Canadians fill out to retrieve some of the 30%?

    Thanks for reading.

  2. #2


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    If only you could just cash out some of your chips at a time, avoiding the whole CTR triggering thing.

  3. #3


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    Quote Originally Posted by Meistro123 View Post
    If only you could just cash out some of your chips at a time, avoiding the whole CTR triggering thing.
    Be very *freaking* careful about this. If you do get above 10,000 USD and you cash out incremental amounts over time (not specified time allotted under Federal law), you could run the risk of being investigated for structuring. Last thing you want is to explain to the Feds you were avoiding a CTR because you wanted to keep your name anonymous against the casinos. Legal jeopardy is major -EV!

    @Nitram : if you are in need of legal advice, contact a US attorney that specializes in Title 31 regulations et al. Explain to them your situation and they will give you their legal opinion on the matter.
    Last edited by lij45o6; 04-24-2020 at 04:46 AM.

  4. #4


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    You just cash out the chips and fill the CTR. It's nothing at all for us Canadian. They will not take 30% as if you won a machine jackpot.
    G Man

  5. #5


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    Is there a tax form Canadians fill out to retrieve some of the 30%?
    Basically how it works is that Canada has a tax treaty with the USA saying that Canadians who gamble in the states will be taxed like Americans. So you basically have to pay tax on any money you win gambling in the USA.

  6. #6


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    I have used a service in the past to recover the 30% that was withheld on a USA tournament win, even though I had no USA losses to show.

  7. #7


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    Quote Originally Posted by Meistro123 View Post
    Basically how it works is that Canada has a tax treaty with the USA saying that Canadians who gamble in the states will be taxed like Americans. So you basically have to pay tax on any money you win gambling in the USA.
    This is true if you win a "global" amount, like a tournament (being in a casino or at chess , etc.) or a slot jackpot, NOT for regular winnings at the BJ tables. Believe me, been doing this for over 25 years.

    Cashing out chips is not a problem, except they may want to see ID. So basically, you collect the chips and fill a CTR if asked for, then you declare the money (over $10K) at the customs.
    G Man

  8. #8


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    Quote Originally Posted by G Man View Post

    then you declare the money (over $10K) at the customs.
    and insure you declare at final port of exit from the United States, and again declare at first port of entry into Canada.

    To appear more informed, with nothing to hide, download the appropriate currency declaration forms for both Canada and the US prior to travel, and have forms pre filled out both Canada and US customs.

    You may still be required to show the cash which may be counted.

  9. #9


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    This is a grey area... If you're American, they absolutely require that you declare to both customs, US while leaving and Canada when entering. As Canadian Citizen, every time I declared upon reentering Canada, they always said to me that by only declaring to them I was coming with over $10K, it was ok...
    G Man

  10. #10


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    Quote Originally Posted by G Man View Post
    This is a grey area... If you're American, they absolutely require that you declare to both customs, US while leaving and Canada when entering. As Canadian Citizen, every time I declared upon reentering Canada, they always said to me that by only declaring to them I was coming with over $10K, it was ok...
    Might be okay for Canada, however, your funds are definitely subject to seizure if you don’t declare to US customs prior to departure from the US.

    What this means is that you make a currency declaration at the final airport of departure from the Unuted States - which obviously will have a customs office. If driving, you should also stop on both sides of the border.

    By having your declarations filled out in advance, as previously noted, you will project a familiarity with rules and regulations which should help you.

    As a side note, from airports, you will first make your currency declaration prior to going through security. If by chance, Security asks about the declaration, the6 can call customs to confirm. Also doesn’t hurt to take a picture of the declaration after customs stamps it.
    Last edited by Freightman; 04-25-2020 at 01:35 PM. Reason: To add last paragraph.

  11. #11


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    You can get the deducted 30% withheld at the end of the year after receiving a win loss statement from us casinos showing that you incurred a loss greater than your wins. Mail the appropriate form to the irs. I am not sure though whether your losses in Canadian casinos are accepted by the irs.

    Sent from my SM-T813 using Tapatalk

  12. #12


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    Quote Originally Posted by Freightman View Post
    Might be okay for Canada, however, your funds are definitely subject to seizure if you don’t declare to US customs prior to departure from the US.
    True if you fly because of TSA. If you drive, never will the canadian customs make a story for not declaring at US border. You drive your car and reach the canadian customs, then you declare. As a Canadian Citizen they will never ask you to make a U turn and go back to US customs to declare. Things loook different for US citizens because they're leaving "their" country with more than they are allowed without declaring it. This could pause problems for both customs, US and Canadian.

    Anyway, better be safe than sorry and declare at both customs!
    G Man

  13. #13


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    This is true if you win a "global" amount, like a tournament (being in a casino or at chess , etc.) or a slot jackpot, NOT for regular winnings at the BJ tables. Believe me, been doing this for over 25 years.
    That is simply untrue. Canadians are obligated to pay taxes on all net gambling winnings in America.

    https://www.amexpattax.com/wp-conten...FAQ-TS2018.pdf
    https://fairtaxcanada.com/us-gambling-tax-recovery/


    The fact that you have been practicing what is known as "tax fraud" for 25 years is something that you might not want to advertise.

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