I want to transfer over $USD10K to New Zealand from the USA and am wondering if there is any tax implication? The money would be going from myself to myself.

1 Answer 1


I can't speak to New Zealand law, but under US law, it's not a gift, so there is no tax.

But there are some practical considerations. How good a relationship do you have with the banks on each end of the transfer? Transfers in the neighborhood of USD$10,000 are automatically considered suspicious and the banks are required to take extra steps to ensure you are not laundering the proceeds of criminal activity, funding terrorism, evading taxes, etc. You will have to fill out quite a bit of paperwork.

  • 2
    From my experience there's no additional paperwork. Banks are required to file paperwork with FinCEN, but that's not your concern and doesn't affect you (if the money is legit).
    – littleadv
    Commented Apr 28, 2015 at 18:11

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