@RacknarockGod Yes, it is more than $100,000 per year that has to be reported. If the amount is $100K or less the gift is not reported to the IRS using Form 3520 or on a tax return. This reporting requirement of a gift received is only when the giver of the gift is a foreign person.
Gifts received are never reported on a tax return so the IRS will not audit you for these gifts.
However, banks are required to report cash deposits of $10,000 or more to the IRS. This was established to assist in money laundering criminal investigations.
