Question

Sending money to parents back home

Forum|Forum|1 year ago
May 13, 2024
2 replies
0 views

When sending money to my parents abroad via Western Union, should I label it as a GIFT or family support/living expenses as purpose of transfer? I'm unsure because I'm contributing to building their house, and the amounts are larger than usual. Also, if I've sent $17,420 annual remittance and label it as Family support/living expenses in the purpose of transfer. Money was sent every month or weeks based on the needs of the construction, do I need to report it? I am a US citizen and the source of sending the money is not from loan and the source is from the private property we sold recently here. Thank you in advance for answering my questions!

Not A Product Question

X

xmasbaby0

Employee

What are you trying to do? And where are you entering the purpose of sending money to your parents? We do not know what "back home" means---we do not know if you mean your parents are in a different state or a different country.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

G

GemaniAuthor

Different country. Entering in WU “Purpose of Transfer” section before completing it.

P

pk12_2

Employee

@Gemani , not knowing which country you are sending monies to and assuming that you are wiring the monies to a bank account owned / operated by your parent, I do not understand the issue here. Personally , I would declare ( as far as I know the only time this required by the transmission entity because of KYC -- Know Your Customer--- requirements ) what it really is for. There is no requirement nor advantage in declaring that this transfer is a gift .

Please consider just keeping it simple and true.

Is there more one of us can for you ?