[achinvestments]

I have a client in London who wants to send a large multi-million dollar fund to us for investment in real estate. We are to manage the fund once it arrives. The large wire transfer seems to have Taxes that must be paid to the IRS-UK by us (the beneficiary) before they will release the fund to us. Is that normal?? The fund is basically an Angel Investment or Loan that is expected to be paid back either in Cash or via property liquidation at a later date... What are the tax implications for receiving these funds only to manage on behalf of the client, which we will earn a management fee for?

[AtlantaTaxExpert]

I have to question the validity of this post. Someone who would receive a multi-million dollar fund transfer from a foreign source would be in line to receive a rather large commission to either manage the funds or do the real estate investments in question.

Hence, they could afford to call any number of local tax firms who could do the research required on any "transfer" tax due. They would most likely have a tax consultant on retainer to answer such questions, and would NOT query a free Internet forum on such issues.

BTW, to my knowledge, there would be no transfer taxes due.

Hence, I have to believe that this is a disguised homework problem, which, as a matter of policy, I do not answer, as it defeats the purpose of the purpose of doing the homework, i.e. to learn!

[Five Rings]

Sounds like one of those African scams to me.

You are not a beneficiary. I don't think you are ready for multi-million anything.