# Moving life savings from UK to USA



## Thetravellingyogi (Apr 16, 2021)

Hi everyone ... some advice needed. I am currently living in USA and in the process of adjusting my status (I married my American husband last year). I have a social security number, work authorization and travel document but we are still waiting our interview date. I have also opened a fledgling business here which is just beginning and not bringing in much money yet.

I have quite a lot of savings in UK and would like to move them to USA. I know that the bank will report the transfer to the IRS but I'm wondering if there will be any issues as it's a considerable amount to bring over. The money is legit - 30 years of savings but I don't have records of where every penny came from - it's a combination of saving every year, inheritance and interest from my UK savings account (the interest is tax free)

I don't want anything to be flagged and to delay our adjustment of status application but surely people move their life savings here al the time when they move to US?

Thanks in advance


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## Moulard (Feb 3, 2017)

Actually the bank is not likely to report it to the IRS (at least not until you start to earn US interest on it), the bank will definitely report it to FinCEN, under US anti-money laundering rules.

Your UK bank will definitely report it to the UK equivalent authorities (the NECC I think)

Depending on the amounts involved, to reduce the risk of the banks blocking access to the funds under AML triggers, I would highly recommend providing advanced warning of the transfer to both financial institutions.


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