Thank you! In that case there would be no U.S. tax on either of you. As a non-U.S. citizen, you are not subject to U.S. gift tax
. And, there is no gift tax on recipients. And, since this is a gift and not income
, there are no income tax implications. But, your kids will have to file Form 3520
with the IRS
for any gifts to each of them in excess of $100,000 during any calendar year due to the money coming from outside the U.S. This is only a reporting
requirement, however, and no tax will be due with the report.
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