# Money transfer



## Immigpat (Mar 28, 2015)

I need to transfer about $60K from my US bank account to my bank account at the country of residence. I've generally transferred small amounts (under $5K) with no problems. But are there any issues with transferring a large amount of money? Are there any IRS or Treasury forms I must fill or will the report of the transfer be done automatically by the bank since it's bank-to-bank? Thank you in advance for any information you can provide.


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## BBCWatcher (Dec 28, 2012)

There are no particular issues. Unless you're attempting to transfer funds to an embargoed/sanctioned country, or to an entity on the U.S. Denied Parties List, there's no additional U.S. report to file....

....Of course from the instant those funds land in your foreign account you'll have a FinCEN Form 114 (and perhaps also IRS Form 8938 and/or IRS Form 3520/3520-A) filing requirement if you don't have that requirement already.


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## Immigpat (Mar 28, 2015)

Thanks for the quick reply.
(And, yes, I'm unfortunately familiar with those forms ...)


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## Bevdeforges (Nov 16, 2007)

As part of any transfer into or out of the US of $10,000 or more, the bank doing the transfer will have to file a notification to the US Treasury. As a result, they may ask you about either the source of the funds, or the purpose of the transfer. But it's up to them to file the paperwork.
Cheers,
Bev


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