In the declaration of balance of payments, the private foreign-related income and expenditure with the equivalent of less than $5,000 (including $5,000) is exempted from reporting under the quota, that is, the reporting information (transaction code, transaction postscript, name and code of the country (region) where the payee/payer is located) in the foreign-related income and expenditure can be exempted from being filled in by the individual reporting entity, except for the funds received and paid from overseas by domestic non-resident individuals through domestic banks.

If the remittance amount exceeds the international balance of payments declaration limit (US$ 5,000), the procedures shall be handled in accordance with the relevant declaration statistics regulations of the local foreign exchange administration, and the BOC handling outlets (generally your BOC account opening outlets) shall be subject to telephone notification. ) will take the initiative to call (according to the regulations, you have to go through the declaration formalities at China Bank within T+5 days, so under normal circumstances, the branch of China Bank will inform you as soon as the remittance arrives. Customers who need to declare need to fill in the declaration form at BOC outlets. Different customers need to declare different information. Failure to provide information and materials that meet the declaration requirements may affect entry. For specific reporting requirements, please consult the Bank of China's handling outlets.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

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