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Level 15
Level 15

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@Ice888  money transfers  between NRAs, even if  into accounts owned and operated by NRA does not come under the aegis of US tax laws.  However, the US sourced income ( i.e. growth of the investment  ) is taxable  income to the NRA  ( assuming the person does have a Tax ID ).  The transfer  into an US account  ( whether owned by a US person ( citizen/GreenCard/ Resident for Tax Purposes ) will result in  SAR ( Suspicious Activity Report ) as a matter of course.

 

There is no  3520 or Gift Tax form required.

 

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