[MRZ88]

My wife is legally employed in the US (H1B visa for a PhD) but she is not a US citizen. Either, I am not US citizen (H4 visa) and am retired in a thirdy country. I want to bring money from my retirement saving overseas to buy a home in US. I am considering to sending it as a wire transfer from my account overseas to mine in the US. Assuming the amount is between US $80K - $130K, what would be my IRS Tax filing/declaration requirements if any? Would I have to actually pay any taxes
Please give some ideas

[AtlantaTaxExpert]

You have to declare the income using Form 3510, but no taxes will be due because there is no transfer between unrelated parties.

[MukatA]

If you transfer your own money there is no filing requirement. If it is gift or inheritance, you may have to file Form 3520.
If you are resident of U.S. you have foreign account reporting requirement Form TD F 90-22.1.

[MRZ88]

Thank you very much for your good answers. You guys are really great.

For IRS tax propose I am a nonresident alien (H4 visa) and my wife is resident alien (H1B) visa. Both accounts, my overseas savings account (from my retirement) as well as the US savings account are under my name. Only my wife is filling IRS income tax, I am not filling income tax since I am an H4 visa (not allowed to work in US) and my only income is my retirement from an overseas country.
In such case (nonresident alien) should I fill Form 3250, Form TD F 90-22.1 and Form 3510 ? (Is Form 3520 or 3510 or both ?)

My major concern to wire a large amount (between US $80K - $130K) is to ring the bell for for FBI, CIA, etc related to money laundry or terrorist organization or criminal intentions. In my case I just want to buy a small home for my family. So this is my major concern, to be under a watch list and face a hassle by departments of US government. I have all the evidence papers of the orign of the money (my retirement savings, hardly saved) but I do not want to get problems.

I hope you guys can enlight me by giving some suggestions on how to proceed.

[MukatA]

1. You are U.S. resident or not is based on substantial presence test (SPT). You have H-4 does not mean you are nonresident. Your U.S. Tax Return: Substantial Presence Test
2. Nonresident spouse of a resident can file joint return as residents. In that case nonresident spouse is treated as resident.
3. Nonresidents do not file FBAR or 3520.

[AtlantaTaxExpert]

MukatA summarizes it rather well; I have nothing to add.

[MRZ88]

Thank you very much for your great help, very well appreciated.

I hope you can give some more tips about the questions below:
1- My major concern to wire a large amount (between US $80K - $130K) is to ring the bell for for FBI, CIA, etc related to money laundry or terrorist organization or criminal intentions.
In my case I just want to buy a small home for my family.
So this is my major concern, to be under a watch list and face a hassle by departments of US government. I have all the evidence papers of the orign of the money (my retirement savings, hardly saved) but I do not want to get problems

2- Related to IRS, you are correct. Based on substantial presence test (SPT) I will be considered "resident alien" for 2010 period (I was not living in US during 2009, my H4 started Jul 2010). Next year I need to fill a IRS incoming tax for sure.
In such case (resident alien) should I fill Form 3250, Form TD F 90-22.1 and Form 3510 or FBAR? (Is Form 3520 or 3510 or both ?)

[AtlantaTaxExpert]

Aactually, such money transfers in the $100K range are rather common.

As long as you can account for the income source on the Form 3510 (something you are prepared to do), there should NOT be a problem.

[MRZ88]

Thank you very much

I Google, but I could not find Form 3510,

I found Form 3520 and TD F 90-22.1. Where can I find Form 3510 ?

*** confirm which one should I fill

[AtlantaTaxExpert]

You are correct; it is Form 3520.

[MRZ88]

Thank you very much, you are really good. Really very well appreaciated

Another question: "sorry to be so complicated !"
I have close connection with two foreign countries (not USA) that I am filling up incoming tax.
Considering the situation, should I also be considered a US resident alien for tax proposal ?

I am going nuts in case to fill up incoming tax for 3 different countries.
Could you please give me some idea if in case I wire money ($80 to 130K) to US and the substantial presence test (SPT) I will be considered "resident alien" for 2010 period.
Should I still fill Form 3250 ? Or I will be considered nonresident alien due to close connection with two diffent countries ?
What is the maximum amount to be send to avoid all "red tape" and hassle ? (like 10 months sending $10K ) ?
Who can help me ?

[AtlantaTaxExpert]

The money transfer will have NO EFFECT on whether you will be considered a resident or non-reisdent alien. Only filing jointly with your spouse makes you a resident alien.

So, yes, conplete the Form 3520.