topic I have been filing FBAR with the IRS. If I wire more than $10K from my foreign bank account to my US bank account, is it subject to tax and do I need to report the wire? in Deductions & credits

I have been filing FBAR with the IRS. If I wire more than $10K from my foreign bank account to my US bank account, is it subject to tax and do I need to report the wire?

krisandclint — Tue, 03 Feb 2026 16:38:30 GMT

Please note I am already paying tax on the interest income in my foreign bank account.

Re: I have been filing FBAR with the IRS. If I wire more than $10K from my foreign bank account to my US bank account, is it subject to tax and do I need to report the wire?

pk — Thu, 06 Mar 2025 20:14:15 GMT

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 ?

Re: I have been filing FBAR with the IRS. If I wire more than $10K from my foreign bank account to my US bank account, is it subject to tax and do I need to report the wire?

krisandclint — Thu, 06 Mar 2025 21:20:03 GMT

Thank you! That was very helpful.