Amendment to Circular No. 308 dated 15 November 2001 Concerning the Bringing of Foreign Currency Into or Out of the Philippines

January 19, 2006 BSP CIRCULAR NO. 507-06 The Monetary Board, under its Resolution No. 1588 dated 16 December 2005, approved the amendment to Circular No. 308 dated 15 November 2001, as amended, so as to require any person who brings into or out of the Philippines foreign currency, as well as other foreign exchange-denominated bearer monetary instruments, to declare the same in writing and to furnish information on the source and purpose of the transport of such currency or monetary instrument. As used herein, "other foreign exchange-denominated bearer monetary instruments" shall refer to the following foreign exchange-denominated instruments in bearer form whereby title thereto passes to another by endorsement, assignment or delivery: travelers' checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment. 1upbsp06 The said required declaration shall be duly accomplished using the attached Foreign Currency and Other Foreign Exchange-Denominated Bearer Monetary Instruments (FCOFEDBMI) Declaration Form. This Circular shall take effect fifteen (15) days after its publication in a newspaper of general circulation. This Circular also amends the two Circular-Letters dated 22 January 2002 and 28 October 2003. CSHDTE FOR THE MONETARY BOARD: (SGD.) AMANDO M. TETANGCO, JR. Governor ATTACHMENT Foreign Currency and Other Foreign Exchange-Denominated Bearer Monetary Instruments Declaration Form Warning : BSP Circular No. 507 dated 19 January 2006, effective fifteen (15) days after its publication in a newspaper of general circulation, requires any person who brings into or out of the Philippines any foreign currency or other foreign exchange-denominated bearer monetary instruments in excess of US$10,000 or its equivalent to declare the same in writing and to furnish information on the source and purpose of the transport of such currency or monetary instrument using this Form. Any violation shall be subject to the sanctions provided for in Section 36 of Republic Act No. 7653, without prejudice to the application of remedies and sanctions provided for under other pertinent laws and regulations. The original form will be provided to the Anti-Money Laundering Council. As used herein, "other foreign-exchange denominated bearer monetary instruments" refer to the following foreign exchange-denominated instruments in bearer form whereby title thereto passes to another by endorsement, assignment or delivery: travelers' checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment . Instructions : Part 1: Individual who is physically transporting Currency or Monetary Instruments Item 1, Name: Enter your name in order of last name (or family name), title, first name and then middle name. Item 2, Date of Birth: Enter your date of birth in MM/DD/YYYY format where MM = month, DD = date and YYYY = year. Item 3, Place of Birth: Enter the town or city, province or state, and country of your birth. Item 4, Citizenship: Enter the name of the country of which you are currently a citizen. Item 5, Passport Number: Enter the identification number on the passport issued by the country that issued your passport. Item 6, Country of Issue: Enter the name of the country that issued your current passport. Item 7, Permanent Address: Enter the street number and name of your permanent residence followed by the barangay, town, city, province or state, postal code and country. Item 8, Occupation, business or principal business activity: Enter the name or title of your occupation or describe your principal business activity. Part 2: Details of Travel Item 9, Arrival or Departure Date: Enter the date of arrival or departure in MM/DD/YYYY format where MM = month, DD = date and YYYY = year. Item 10, Flight Number or Name of Ship: Enter the airline and flight number or the vessel name of arrival by sea Item 11, Bill of Lading Number & Date: If currency is being shipped, then you must list the B/L number and the date of shipment. aSIATD Item 12, Prior Port of Entry/Departure: If you are in-transit, list the prior port of entry or departure. Item 13, Port of Entry/Departure: List the port you are arriving at or departing the Philippines. Item 14, Destination: List your next port of arrival after leaving the Philippines. Part 3: Owner/Sender of Currency or Monetary Instruments Item 15, Name: Enter the name of the owner or sender of the currency or monetary instrument, in order of last name (or family name), title, first name and then middle name. Item 16, Permanent Address: Enter the street number and name of the owner's or sender's residence followed by the barangay, town, city, province or state, postal code and country. Item 17, Occupation, business or principal business activity: Enter the name or title of the owner's or sender's occupation or describe their principal business activity. Part 4: Recipient of Currency or Monetary Instruments Item 18, Name: Enter the name of the recipient of the currency or monetary instrument, in order of last name (or family name), title, first name and then middle name. Item 19, Permanent Address: Enter the street number and name of the recipient's residence followed by the barangay, town, city, province or state, postal code and country. Item 20, Occupation, business or principal business activity: Enter the name or title of the recipient's occupation or describe their principal business activity. Part 5: Currency or Monetary Instruments Information Item 21, Currency or Monetary Instrument: Enter the name of the currency or monetary instrument being transported. Item 22, Country: Enter the name of the country that issued the currency or monetary instrument being transported. Item 23, Amount: Enter the amount of currency or monetary instrument being transported. Item 24, Source/s of Currency or Monetary Instruments: List the source and explain how you acquired the currency or monetary instrument. Item 25, Purpose of the Transport of Currency or Monetary Instrument: Explain why and for what purpose the currency or monetary instrument you are transporting will be used. Item 26, Signature: This report must be signed by the person transporting the currency or monetary instrument into or out of the Philippines. Item 27, Date: Enter the date you signed the report using MM/DD/YYYY format where MM = month, DD = date and YYYY = year. STaAcC