@jdjz9705 wrote:
Good point about the FBAR. Thanks! Would you know if there is a window limit of the incoming $10k per transaction? Let's say should it be annually, or monthly would be fine?
Don't muck around, just do what you need to do.
Any transaction more than $10,000 is reported to the IRS. It's just for reporting and tracking purposes. If you are afraid your transactions might look funny, there's really nothing you can do to look "less suspicious". And in fact, structuring your transactions to fly under the radar (making 3 transfers of $5000 instead of one transfer of $15,000, for example) can constitute a separate crime called "structuring" even if the underlying transaction is perfectly legal.
Also, there is another reporting rule that @pk did not mention. If you receive more than $100,000 from a foreign person or more than $17,000 from a foreign corporation, that must also be reported.
It;s not clear who you are transferring money back and forth to and from (your own accounts in foreign countries or other people or businesses) and it is not clear the dollar amount.)
Just stick to your own business and don't monkey around. Trying to play games can make it worse.
