pk
Level 15
Level 15

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@Alancop  just to round out the comments/answers by my Colleagues  @Anonymous_  & @xmasbaby0 , 

(a) form 709 informs the IRS of the gift and updates your life time account  for Gift/Estate tax purposes;

(b) transfers of  more than US$ 10,000 generally will result  ( as  matter of course ) a SAR ( Suspicious  Activity Report) and  then closed .  If you are transferring an amount more than US$10,000,000  ( I think ) you need US treasury permission.

(c) Please peruse  the instructions for form 709 --- > 2022 Instructions for Form 709 (irs.gov) 

 

Hopefully all these responses have answered your question to the full and you can now close  this thread.

 

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