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I am a non-resident alien in USA on J1 visa. My wife and I are both Indian citizens. Recently my wife moved from her previous job (in Spain) to live with me as dependent J2. Since she does not have any bank account here, we were wondering if we can transfer her Spanish account balance (<10000$) to my checking account in USA, or preferably to my Apple saving bank account.

  1. Would I need to declare it in my tax filing?
  2. Would it incur any capital gains tax or any other tax?
  3. What other paperwork would be needed?

1 Answer 1

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Would I need to declare it in my tax filing?

No, if you're a non-resident in the US then nothing to declare. Residents are subject to FBAR requirements.

Would it incur any capital gains tax or any other tax?

No, if it's just cash then there's no gain.

What other paperwork would be needed?

No other paperwork.

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  • Thank you for answer. On a side note, if non-residents need not declare anything or pay any tax on cash transfer from foreign sources, does it not open a potential door for security implications for the USA? I would have assumed that govt. would like to keep tighter grip on it.
    – ipcamit
    Jun 10, 2023 at 13:52
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    @ipcamit the government is well aware of your bank transfers, don't you worry. If you are a resident, you're required to disclose your foreign accounts.
    – littleadv
    Jun 10, 2023 at 18:55

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