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    rocky12345's Avatar
    rocky12345 Posts: 2, Reputation: 1
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    #1

    Mar 27, 2014, 04:19 PM
    IRS rules on transfer of money from overseas
    I would like to transfer money from overseas bank account in England, of a family member to my account in the US. What are my obligations on that issue, its not a gift. And its an amount exeeding $250,000usd
    rocky12345's Avatar
    rocky12345 Posts: 2, Reputation: 1
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    #2

    Mar 27, 2014, 04:22 PM
    Mr rocky
    Rules on transfer money from overseas account of non u.s resident
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #3

    Mar 28, 2014, 12:01 AM
    While there are no transfer taxes, you will need to submit Form 3520 to report the money transfer and explain the nature of the transfer.

    Information only; no tax will be assessed.
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