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    tiny35's Avatar
    tiny35 Posts: 1, Reputation: 1
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    #1

    Dec 3, 2008, 09:19 PM
    Do I have to do any documentation for intl wire xfer into US >10K?
    I have a couple of outstanding invoices from work in Europe earlier this year that I want to collect. I want to xfer straight to US account. If carrying money, there's a limit of $10k in order not to fill in declaration forms, is there something similar for wire transfers, or can I xfer any amount without additional documentation?
    This money is coming from company who owes me, not my own account, and is income so will have to be taxed.

    Thank you!
    KISS's Avatar
    KISS Posts: 12,510, Reputation: 839
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    #2

    Dec 3, 2008, 09:39 PM

    10K automatically triggers additional reporting to the Federal Government by the receiving bank so does multiple smaller transfers especially if not periodic.

    I'd suggest calling your bank in the US. You would have to set up the wire transfer in advance anyway. They may be required to withhold a certain amount for federal taxes like 10%.

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