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socrateaser, Attorney
Category: Estate Law
Satisfied Customers: 38895
Experience:  Retired (mostly)
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we have money in canada from an inheritance. we want to transfere

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we have money in canada from an inheritance. we want to transfere to us. what are our tax liabilities

There is no tax liability to a U.S. citizen or permanent resident on the inheritance of assets of a decedent who was permanently resident in Canada at death.

If the amount of the transfer is more than $100,000, you must report the transfer on IRS form 3520. But, there is no associated tax liability.

Hope this helps.
Customer: replied 3 years ago.

thanks that's good news. So, we write a ck on our account in canada and transfer to our bank in US and that's it ?

That's it. Nothing further is required.

Hope this helps.
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