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    taylorvip's Avatar
    taylorvip Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 31, 2014, 12:50 PM
    If I transfer $90,000 from the UK to my brother in the US does he need to declare?
    I want to transfer $90,000 from the US from my account to my brothers account and I wanted to understand if he needs to declare this via IRS?

    1. Will he need to submit a Form 3250?
    2. if I send him an additional $15,000 within that same tax year will he still need to submit form 3250
    3. Are there any tax implication?
    4. Will I need to provide some sort of evidence on the $95,000 transaction from UK to US transfer?

    Thanks

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

    Mar 31, 2014, 10:30 PM
    If ALL you send is $90,000, then NO Form 3520 is required.

    However, send $90K, then an additional $15K, then the Form 3520 is necessary.

    There are no tax implications from the Form 3520.
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