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Old 21.06.2021, 21:32
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International bank transfers to US-limit?

I've read that there is a limit of $10,000 on international bank transfers to the US. (Before it needs to be declared to the IRS). But is this per day? Or per year? I cannot find consistent information on this online.
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Old 21.06.2021, 21:41
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Re: International bank transfers to US-limit?

No, that is commonly known as a limit you can send without raising flags.
However, any uncommon transaction can raise a flag.

So yes, you can send much higher amounts, just be prepared to answer questions on where the funds came from.

As to when you need to report to the IRS, no idea.
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Old 21.06.2021, 21:51
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Re: International bank transfers to US-limit?

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No, that is commonly known as a limit you can send without raising flags.
However, any uncommon transaction can raise a flag.

So yes, you can send much higher amounts, just be prepared to answer questions on where the funds came from.

As to when you need to report to the IRS, no idea.
Multiple transfers of $5k will also be flagged, I have done many transfers of $100k & only an issue if the money is being sent to a grey jurisdiction such as Jersey a year ago. Because of this I closed my HSBC Expat account.

Being flagged is in no way an issue as long as the financial organisations have done their KYC paperwork, they will confirm it's a normal transaction (or not!).
 

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