[californiaJv]

I am in the US on an non-immigrant visa (J), but I have been here for longer than two years, which makes me a resident alien for tax purposes. I intend to move my savings from by bank account in Europe to my bank account in the US (it is not the same bank). The sum is close to $60000. The money has already been taxed in the EU.

Questions:
1. Is the money transfer subject to US tax, and if so, does the amount count as part of my income for the current tax year? (current residence: California)
2. Do I need to provide my old work contracts in Europe (they're not in English) to prove the source of the money?

Thanks a lot.

[taxesforaliens]

The money transfer itself is not taxable. However, you are required to report any income you have overseas to the IRS in the respective year. So if you had interest income, you would need to report that. You can take the foreign paid tax credit for taxes you paid in Europe to avoid double taxation.
You are also required to file FBAR forms for any years you were a resident alien and had more than $10,000 in foreign bank accounts.
Www.irs.gov/pub/irs-pdf/f90221.pdf