US citizen needs to transfer large amount of money to the US

[izainn 0]

I just became US citizen and need to transfer $50,000 from Poland to the US. I have a partner in business and the money is in her business bank account in Poland. She has red flags under her name and at this point all transfers that come out from her name are blocked by treasury dept or IRS. I know that I can transfer up to $10,000 without any problems but I need the whole $50,000 ASAP. I do have personal bank accountin Poland and one in the US. Someone told me that I can transfer $50,000 at once but need a proof where the money came from in Poland. I haven't lived there for 11 years, so work or savings will be a hard one to proof.

I am wonder how often I can transfer $10,000 under my name, is it $10,000 every month and I will be ok. Can I transfer $10,000 each week for five weeks by western union to get $50,000 and I will be ok? I appreciate your comments and help.

[youtube 0]

I just became US citizen and need to transfer $50,000 from Poland to the US. I have a partner in business and the money is in her business bank account in Poland. She has red flags under her name and at this point all transfers that come out from her name are blocked by treasury dept or IRS. I know that I can transfer up to $10,000 without any problems but I need the whole $50,000 ASAP. I do have personal bank accountin Poland and one in the US. Someone told me that I can transfer $50,000 at once but need a proof where the money came from in Poland. I haven't lived there for 11 years, so work or savings will be a hard one to proof.

I am wonder how often I can transfer $10,000 under my name, is it $10,000 every month and I will be ok. Can I transfer $10,000 each week for five weeks by western union to get $50,000 and I will be ok? I appreciate your comments and help.

unless you're a legit business, this information will be given to the DHS/Treasury Dept. If you are doing it in lots under $10K, it will go through but if you are doing it over several transactions it will trigger a red flag.

They may not stop you but someone will be checking into it (unbeknownst to you).

I would do things up and up so as not to jeopardize your good name - IMHO

good luck

[Otto 83]

The Patriot Act makes virtually any transfers a bit of a pain.

Using structured wire transfers (such as multiple sub $10,000 transfers) is, or can be a red flag - if your source is legal - it is suggested you use legal, fully disclosed methods.

If not - you're on your own because they take this very seriously as virtually all banking institution are obligated to report moving of money.

[Penguin_ie 5,996]

We transferred more than double that amount in one go from a join (USC/ foreign spouse) account in Ireland to a new USC-only checking account in the USA. We got no questions on either side despite the USC being unemployed in Ireland (this was all savings), but I guess they realised it costs money to buy a house here to set up a new life!

Might be different for you as you're from a different counry and a business is involved.

Edited May 16, 2009 by Penguin_ie

[payxibka 10,047]

people transfer money and very large sums of money all the time from bank to bank... if the transaction is more than $10k it must be reported... that is all.... most likely you will not here a word about this...

[Peace be still 6]

people transfer money and very large sums of money all the time from bank to bank... if the transaction is more than $10k it must be reported... that is all.... most likely you will not here a word about this...

Payxibka is correct about if you transfer $10,000 it must be reported to the IRS. Just do it the legal way and I would not get involved in anything illegal. It's not worth it, the hell with trying to get a quick dollar. If it's your money then do it the correct way, but if someone else is trying to get you to commit an illegal act tell him/her or them that your price of freedom can't be purchased.

[blue123 0]

I just became US citizen and need to transfer $50,000 from Poland to the US. I have a partner in business and the money is in her business bank account in Poland. She has red flags under her name and at this point all transfers that come out from her name are blocked by treasury dept or IRS. I know that I can transfer up to $10,000 without any problems but I need the whole $50,000 ASAP. I do have personal bank accountin Poland and one in the US. Someone told me that I can transfer $50,000 at once but need a proof where the money came from in Poland. I haven't lived there for 11 years, so work or savings will be a hard one to proof.

I am wonder how often I can transfer $10,000 under my name, is it $10,000 every month and I will be ok. Can I transfer $10,000 each week for five weeks by western union to get $50,000 and I will be ok? I appreciate your comments and help.

xetrade.com I sent over more than 10k to my US account without any problems just need to set up account.

[KGH 0]

I just became US citizen and need to transfer $50,000 from Poland to the US. I have a partner in business and the money is in her business bank account in Poland. She has red flags under her name and at this point all transfers that come out from her name are blocked by treasury dept or IRS. I know that I can transfer up to $10,000 without any problems but I need the whole $50,000 ASAP. I do have personal bank accountin Poland and one in the US. Someone told me that I can transfer $50,000 at once but need a proof where the money came from in Poland. I haven't lived there for 11 years, so work or savings will be a hard one to proof.

I am wonder how often I can transfer $10,000 under my name, is it $10,000 every month and I will be ok. Can I transfer $10,000 each week for five weeks by western union to get $50,000 and I will be ok? I appreciate your comments and help.

As long as I know there is no problem, transferring money even over 10K, if you deposit cash then you are correct, for over 9,999 you have to fill out forms but for transfer from account to account there is no problem, because they can always trace it back if they want to, as long as you are not doing any thing illegal you shouldn't worry about any thing, 50K is nothing!

[NickD 203]

Shouldn't your bank know the laws on transferring sums of money? If they don't, find one that does, even in my small town we have just as many different banks as we do taverns and churches. Found it ridiculous couldn't even open a small 1000 buck joint account until my wife got her green card, this country has gone crazy. Not exactly talking about 25 million to pay off a terrorist.

Least you can transfer your money, can't do that with Chavez, can lose 60% of it with their black market and sneak it in, so just leaving it there, screw it, we have bread on the table and are happy.

[TayRivers 4]

I did a International Wire Transfer of $150,000.00 from a UK Bank to my US bank, never filled in any form just gave the UK bank the details of the account I wanted it to go to and 3 days later the money was in my US account.

[Tygrys 143]

I just became US citizen and need to transfer $50,000 from Poland to the US. I have a partner in business and the money is in her business bank account in Poland. She has red flags under her name and at this point all transfers that come out from her name are blocked by treasury dept or IRS. I know that I can transfer up to $10,000 without any problems but I need the whole $50,000 ASAP. I do have personal bank accountin Poland and one in the US. Someone told me that I can transfer $50,000 at once but need a proof where the money came from in Poland. I haven't lived there for 11 years, so work or savings will be a hard one to proof.

I am wonder how often I can transfer $10,000 under my name, is it $10,000 every month and I will be ok. Can I transfer $10,000 each week for five weeks by western union to get $50,000 and I will be ok? I appreciate your comments and help.

And how is that (about your statement highlighted in red)?

Wire transfers are done between banks directly and do not go through Treasury or IRS. It is true that anything $10K+ will get reported by your bank to the Feds and then you may be asked for an explanation of source (oh, they just want to tax you, baby). I successfully used wire transfers from Poland each in amount $9500 every couple of weeks until done, never got any questions.

[blue123 0]

Shouldn't your bank know the laws on transferring sums of money? If they don't, find one that does, even in my small town we have just as many different banks as we do taverns and churches. Found it ridiculous couldn't even open a small 1000 buck joint account until my wife got her green card, this country has gone crazy. Not exactly talking about 25 million to pay off a terrorist.

Least you can transfer your money, can't do that with Chavez, can lose 60% of it with their black market and sneak it in, so just leaving it there, screw it, we have bread on the table and are happy.

Don't understand why you couldn't open an account. I went into a bank last summer asked to open account and as I didn't have a SSN# or green card they just wanted to see my passport, took a copy of biographic page and was done in 15 minutes.

[TayRivers 4]

Shouldn't your bank know the laws on transferring sums of money? If they don't, find one that does, even in my small town we have just as many different banks as we do taverns and churches. Found it ridiculous couldn't even open a small 1000 buck joint account until my wife got her green card, this country has gone crazy. Not exactly talking about 25 million to pay off a terrorist.

Least you can transfer your money, can't do that with Chavez, can lose 60% of it with their black market and sneak it in, so just leaving it there, screw it, we have bread on the table and are happy.

Don't understand why you couldn't open an account. I went into a bank last summer asked to open account and as I didn't have a SSN# or green card they just wanted to see my passport, took a copy of biographic page and was done in 15 minutes.

Yes I agree, my parents are just about to immigrate to the US. When they were here in march on vacation they opened a joint checking account and individual savings accounts so they can transfer their money when the time comes and also have the account numbers to get their pensions paid to them in the US.

They do not have SSN all they did was show their passports and deposited $500 to oppen the accounts. took no more than 30 mins to do this.

They have since transfered well over $100,000.00 by wire transfer from the UK to the US they have never been asked to complete any forms when transfering money.

[KyngSilva 0]

Your account just get's flagged for review by the AML (Anti Money Laundering) group at your banks head quarters or field offices. It's reported mainly to DHS, the Feds and the US postal service. As long as you have nothing to hide, your good to go =). The government then determines if it is worth their time to look into it or just wait for the next big fish. This is what we did at the big bank I was at. Good luck.

[KyngSilva 0]

To continue from the top

My only question to you is why has the IRS and the Treasury dept, flagged her account? If the account is flagged you might have to do some pretty good explaining as to where this money is coming from. Don't play around with the feds, they can get really nasty. See how much trouble they give us just applying to be a citizen ...lol

PS Im sure DHS and the postal service are aware of this too. I would speak to a local banker and ask them what they would recommend. AT least then you have a banker advising you and not some people on the internet. So if they ask you, you can then say, my banker told me to do it...not that it's going to help much, but it's better than saying some people on the internet told me to do it this way...=)

Good luck