pk
Level 15
Level 15

Deductions & credits

@krisandclint ,

I am assuming you mean that you have been filing FBAR  ( form 114 ) with  FinCen.gov -- this is part of the treasury.

If you transfer / wire monies from your foreign  bank account to your US bank account --- the receiving bank will raise  a SAR  (Suspicious  Activity Report ) as a matter of course  and that is it -- nothing  happens , since they know you.   

There is NO Tax Consequence -- you are moving your own monies between accounts.

Any interest earnings  on your monies abroad, needs to be recognized on your  US tax return  and  taxed by the US.  Any taxes paid to a foreign taxing authority may be eligible for  foreign tax credit.

 

Is there more I can do for you ?