Hi,

My sister is in some urgent need in the UK and I want to transfer money from US to her. Are there any legal implications? Is there a limit on money that I can transfer to her?

All transfer would be through SWIFT

Thanks for your help.

Hello s:

No, there are no restrictions, legal implications, or limits. This, of course, assuming the money is legal and all taxes due have been paid.

excon

Depends on how much your sending by wire or other electronic means. The cap is around 12,000. If your sending a substantial amount then I would document everything so there is no question of illegal activities.
Before sending ask the institution if there is any limits or red flags.

Quote:

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Originally Posted by seeker4ever

Hi,

My sister is in some urgent need in the UK and I want to transfer money from US to her. Are there any legal implications? Is there a limit on money that I can transfer to her?

All transfer would be through SWIFT

Thanks for your help.

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Make sure each transaction is less than $10,000 so it won't required inspection by the fed...

Hello again, s:

The United States has a REPORTING limit involving transactions of $10,000 or more in CASH. CASH is the key because drug dealers launder their CASH, and it's drug dealers that they want to catch - not YOU. If you're sending money that is already IN a bank account, then you have NOTHING to fear.

It's a REPORTING limit too - not a MONEY limit. Therefore, you can send jillions and even another jillion as long as the taxes have been paid on it.

excon