Transfer of money to non-US citizen

[HS1402]

Hi,

I'm a green card holder, and my mom is a non US citizen nor resident, and living outside of the US. I have a bank account in my native country, and wired amount equivalent to just over $20,000, from my bank account to hers, both are outside of the US. Do I report this wire transfer to the IRS as gift, even though my mom has no relations to the US?

Thank you.

[pk]

@HS1402 

1. As a US person  ( citizen, Green Card holder or Resident for tax purposes) the tax laws are the same  and you are generally allowed to give a gift of "free amount" per year per  donee without having to report .  For 2021 the "free amount " was $15,000 -- it is not material whether the monies came from US sources  / US bank or is another currency -- since  you are taxed on your world income.  It also does not matter whether the  recipient / donee is a US person or not .   

2. If you are married  then you and your spouse can   each gift $15,000 to a donee without having to report.

3. Any amount above the free amount needs to be reported on form 709 , has no tax effect today  but counts towards  your life long amount when your estate is settled / inheritance.   And this may change significantly by the time  your estate  settlement come up.  So it is nothing to worry about today.

4.  The fact that you have a foreign bank account , suggests that you perhaps you do need to file  FBAR and FATCA forms.   Hope you have been doing this .

Is there more I can do for you ?

[HS1402]

Thank you, this is very helpful. I only very recently moved to the US so still in the process of handling all the paperwork and settling my money issues from overseas.

Have a great day!