I have a bank account in the United States from the time when I lived there. I am not a US citizen and I have not lived in the US for several years now.
My in-laws are planning to send a large sum to this account as a gift to us. The transfer would come from a third country (not the US and not where we currently live). The reason for using this account: avoid currency conversion.
What are the reporting requirements within the US that apply to this case, and what are the penalties for failing to report?
I understand that US citizens and residents need to report large foreign transfers to the IRS. However, we are neither residents nor citizens of the US, and no longer deal with the IRS. What is the correct procedure in this case? I expect that there are still some anti-money-laundering regulations we need to follow.
This question is solely about requirements to report to the US, not about reporting to the tax authorities of the country where we currently live.