Do I need to report and/or pay tax on transferring money from my own foreign bank account to my US account?
I want to transfer money, about $150,000 from a foreign account under my name, that was reported in recent years through FBAR form, to my account in the US. Are there reporting and taxing requirements for that?
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1 Best answer
DoninGA
Level 15
May 31, 2019 5:45:28 PM
You do not report the transfer of funds from your overseas account to your US account on a federal tax return. There is not an IRS reporting requirement for funds transfer from your personal foreign account to your US personal account.
2 Replies
DoninGA
Level 15
May 31, 2019 5:45:28 PM
You do not report the transfer of funds from your overseas account to your US account on a federal tax return. There is not an IRS reporting requirement for funds transfer from your personal foreign account to your US personal account.
schiattof
New Member
May 31, 2019 5:45:30 PM
Thanks! The total divideds where $200, Should i report the full amount or just half in my tax return?