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etai
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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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Do I need to report and/or pay tax on transferring money from my own foreign bank account to my US account?

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.

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2 Replies

Do I need to report and/or pay tax on transferring money from my own foreign bank account to my US account?

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

Do I need to report and/or pay tax on transferring money from my own foreign bank account to my US account?

Thanks! The total divideds where $200, Should i report the full amount or just half in my tax return?
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