I know about the 10k limit if you deposit cash where you are required to fill out a form. But what about a bank to bank wire transfer? Is there a limit to how much you can receive before you have to fill out a form? And how does this apply to a personal or business type of bank account?


There is no limit, and no form to fill.

Potentially, the bank reports the transfer, but as the person receiving the wire transfer, you have to do nothing special.

Note that there is a chance the IRS contacts you as the source of the money is not clear - if it is income, it is taxable, and if it is a gift, it is also taxable (for the giver); so you need to either have it on your next tax filing, or you have an explanation why you don‘t owe taxes on it (for example, it comes from your own account, and you already paid taxes on it).

  • This is much closer to my experience when transferring money from Australia into the USA: just transfer. Any form-filling is done by the bank. – Peter K. Mar 5 '18 at 13:09
  • what happens if its a capital investment from my uncle from a foreign country for my business here? – Patoshi パトシ Mar 5 '18 at 14:58
  • if it’s a gift, you have to report it on your taxes. If it is a interest-free loan, you have to report the saved interest as gift. If you’ll pay interest, you can deduct them from your taxes. If he becomes a partner and makes money on it, he (or your company) has to file taxes. and so on. Talk to your tax advisor. – Aganju Mar 5 '18 at 15:50
  • Gifts are taxable to the recipient? – Dilip Sarwate Mar 5 '18 at 16:04
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    So how about editing your answer to remove the incorrect information? – Dilip Sarwate Mar 5 '18 at 21:11

For purposes of reporting, wire transfers and deposits of coin and currency are reportable, regardless of domestic or foreign. The bank maintains its "know your customer" obligations and still is obligated to report transactions. Banks are obligated to provide as much information as they have available. There are two levels or reporting. The first could be thought of as standard reporting and the second for suspicious activity. Anyone suspected of controlling over $10,000 in a foreign country must have all of their transactions reported.

See https://www.fincen.gov/resources/fincens-mandate-congress

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    There is no form for you to fill for wire transfers. The bank might report it, but the account owner has nothing to do. The 10k$ limit is strictly for cash transactions. – Aganju Mar 5 '18 at 12:43
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    Wire transfers are not currency. The definition is "coin and paper money of the United States or any other country as long as it is customarily accepted as money in the country of issue." – user71659 Mar 5 '18 at 18:54

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