I am going to receive a large sum of money as a gift from my foreign citizen parents. Does it matter if the money gets deposited in my foreign bank account vs. my US bank account?
For them, it's easier to deposit locally in the foreign bank. But wondering if it has any different implications for me between receiving the money abroad and then transferring it to the US myself vs. receiving it directly in the US.
In In either case I will file FBAR and the IRS form 3520.
