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    chunlong's Avatar
    chunlong Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Jan 2, 2013, 08:10 AM
    Wire-transfer from overseas to US
    I will be a H1B holder working in US soon in 2013. I will move from Singapore first and my wife will move later. My wife will help us to wire-transfer all our money from Singapore to my US bank account( I will open an account as soon as I arrive ). Does this incur any gift tax or income tax when we file tax return for year 2013 later?

    Thanks.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 2, 2013, 10:08 AM
    No, that is a bank transfer of assets, and the United States has NO transfer taxes.

    You MAY need to file Form 3520 to explain the nature of the transfer, but that an information only return.
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