My dad who is an Non-resident alien would like to gift some amout ~$30,000 from the sale of foreign assets in the foreign country into my foreign bank account, which currently has only $100.00. He will be immigrating to the US during dec'09. For 2009, he will be a Dual status alien, i.e NRA till Nov30th 2009 and RA from Dec 1st -> Dec 31st.

Here is what i want to confirm if my understanding is correct.

1. I don't think my Dad is subject to gift tax bcos at the time of gift he was still a NRA and it non-US asset.

2. Will he have to declare anything on FBAR form for 2010, for period when he as an NRA?

3. I will have to declare my foreign bank account in FBAR for 2010 bcos amount in 2009 as a result of gift exceeded $10K. Should i attach a gift deed along with the form?

4. Are there any other filing documents that i need to send?

AtlantaTaxExpert

Use option #2.

While BOTH options are legal, #2 has the least likelhood of falling afoul of scrutiny by the IRS.