Money transfer to US when moving to US (H1B)
Hi,
I'm moving to US next January from Japan under H1B visa. I have my savings that I've earned while living and working in Japan that I'll have to transfer to US upon moving. Right now my money is split between my bank account (US$ 100k) and my paypal account (US$ 80k). I'll open an account on US as soon as I get there and I'll be transferring my money from my personal account in Japan to my new personal account in US. My questions are:
1- Will I need to pay any kind of taxes to IRS for the money transferred from my bank account in Japan? Do I need to declare it? How?
2- If I transfer my money from my paypal account to my US bank account, will I need to pay taxes to IRS for that money? (just remembering, all the money was earned before going to US). Will I need to declare this money? How?
Any help is much appreciated.
Best Regards,