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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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Sir, I am NRA, My daughter U.S. Citizen. I wish to make wire

Resolved Question:

I am NRA, My daughter U.S. Citizen. I wish to make wire transfer Gifts from account
held outside U.S. Is ther a Gift tax liability ? What is the best method otherwis ?
Submitted: 6 years ago.
Category: Tax
Expert:  Merlo replied 6 years ago.

Hello JA Customer,


There would be no gift tax liability for a non resident alien to make a gift to a US citizen or resident of the US. However, depending on the amount of the gift, the US citizen may have some reporting requirements.


If a US citizen or resident of the US receives a gift from a foreign source that exceeds the amount of $100,000 USD in one year, then the person receiving the gift must file Form 3520 with the IRS to report receiving that money. There is no tax due with the filing of that form, but it is required for informational purposes only. Gifts below the threshold of $100,000 annually do not need to be reported.


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Thank you JA Customer



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