- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Any reporting when receiving international wire transfer into US?
I am a US citizen living in US now. I was interested in buying a real estate in Turkey, so I wired $320K from my US account to my father's account in Turkey. He was going to pay this to the seller and register the real estate under my name. Then the real estate deal fell apart, so I asked my father to return my money. After all the commissions, taxes, and forex loss I received a wire transfer in my US account at the amount of $315K. All this traffic happened in 5 business days ($320K wired out and $315K received back).
Clearly this money is not a gift, so no Form 3520 is needed. I never had any account in Turkey, so it feels that there is no FATCA related filing either. IS there any reporting or filing I have to do?
‎April 6, 2021
2:39 PM