MarilynG1
Expert Alumni

Deductions & credits

 

You are correct you don't need to be concerned about reporting a wire transfer between branches of a US bank.

 

It might be that your parents are concerned about the Gift Tax (which they would report), but if you and they are joint account holders, this would not apply.

 

Here's an IRS link on Comparison of Form 8938 and FBAR Requirements.

 

This is an IRS Link on Gift Tax

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