@poonamkachaand ,
(a) if the amount received by each recipient from an NRA ( aggregated if related parties ) is under US$100,000 there is no reporting requirement. The receiving US bank will indeed raise a SAR ( Suspicious Activity Report) as a matter of course and nothing comes of it generally.
(b) if the amount is equal or greater that US$100,000 then the recipient would have to file a form 3520 -- see here --
Form 3520 (Rev. December 2023)
Instructions for Form 3520 (Rev. December 2023)
Is there more I can do for you ?
