Wiring money abroad temporarily

[IHCH7374]

I need to wire about $50.000 temporarily to my mother abroad so she can show liquidity for a bridge mortgage loan as she purchased an apartment and needs to sell her house.  The bank over there requires an extra 10% custion to approve the bridge loan. I've been informed that is standard procedure. She will return the $50k after the bridge mortgage loan is approved.  I want to make sure it's not considered a gift both ways.  What best to do?  Make it a loan? (can we do the signing retroactively or before wiring?) --- thanks in advance!

[ThomasM125]

If the agreement is that she returns the money, then it is a loan and not a gift. It would be best to have a loan document drawn up, but if she returns the money promptly then it wouldn't be absolutely necessary. If she doesn't return the extra $10,000 that amount would be a gift, but since it is under the annual gift exclusion amount it wouldn't be reportable.

[IHCH7374]

Thank you for your prompt response. Yes, she will return it within a month or so for the full amount so there is no exchange of money in essence. I understand from you that it's then not necessary to draw up any docs. That's a relieve to me that the admin is not needed. I just wanted to make sure I comply with the requirements. thanks again.