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    Daniel93940's Avatar
    Daniel93940 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 31, 2013, 03:27 AM
    International money wire tranfer
    I have dual citizenship. I'm living in the U.S. I also have a bank account in France. I would like to transfer money from my French bank account to my U.S. bank account (over $100000) for a deposit on a house property that I want to purchase. Do I, or do the bank have to report this transaction to the I.R.S. or treasury ? Am I taxable ?
    Thank you in advance for your help ! I much appreciate your expertise...
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jan 31, 2013, 06:00 AM
    No, it is not taxable. You do not need to report this transcation to IRS. Hope you are filing Form TD F 90-22.1 and reporting any interest income on your U.S. tax return.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Jan 31, 2013, 09:08 AM
    The OP may also have to file Form 3520 to report details about the $100K. Information return only; no taxes due.
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