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How do I transfer money in US bank account to a foreign account?

I was a resident alien until very recently, by which I mean I have paid tax to IRS diligently and will do until when I relived form those obligations.  Now, I am just a foreigner with a couple of bank accounts in the US. I'm wondering how I can get my money from those banks to my bank here. (My country has some tax treaties with the US -- no 30% tax in case if some earned money involved but I'm not working in the US now.)  IRS is aware of my money in a foreign bank account because I file FBAR every year. I appreciate your help about how to transfer my money in the US bank to my bank account here. I appreciate your help!

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5 Replies
ErnieS0
Expert Alumni

How do I transfer money in US bank account to a foreign account?

Contact your bank. You should be able to close your US accounts and either have your money wired to your foreign bank or have your US bank send you a check that you can deposit.

 

The 30% withholding only applies to earnings. There is no withholding if you are transferring your own money overseas.

 

If you have withholding on earnings you should file a Form 1040NR. TurboTax does not support this form, but you can prepare a nonresident return with our partner Sprintax.com.

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How do I transfer money in US bank account to a foreign account?

Ernie50, thanks for your reply.  I feel relieved. I will contact my banks in the US! You have a wonderful day!

How do I transfer money in US bank account to a foreign account?

Hi. I realize I would like to keep my bank account for a while for tax payment for the year 2022. In this case, do I need to send my W-8BEN form to this bank?  I have a checking account with them (checking and saving accounts are under the same account number, although there has been no money since before my status changed from a resident alien to non resident alien).

 

I'm about to send my W-8BEN forms to a few financial institutions holding my IRA accounts. Thank you!

 

How do I transfer money in US bank account to a foreign account?

what foreign account do you mean?

How do I transfer money in US bank account to a foreign account?

Thanks for your response, bentriviani, but I don't understand the meaning of your question. Do you mean which country's bank account I mean when I say "foreign bank account?"

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