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    molatte's Avatar
    molatte Posts: 4, Reputation: 1
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    #1

    Jun 1, 2010, 12:27 AM
    What is US tax liability on transferring own funds to US
    I am transferring $200K of my own funds from outside the US to US bank account. Is there an IRS reporting requirements? Will the amount be taxable?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
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    #2

    Jun 1, 2010, 02:50 AM

    No there is no reporting requirement for transferring the funds.
    But for funds in foreign bank accounts, you need to file Form Form TD F 90-22.1. File on or before June 30, 2010. You can also file this form for year 2008 on or before June 30, 2010 without any penalty.
    molatte's Avatar
    molatte Posts: 4, Reputation: 1
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    #3

    Jun 1, 2010, 08:53 AM
    Thank you for your response.
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