Question

How do I transfer money in US bank account to a foreign account?

Forum|Forum|4 years ago
April 4, 2022
2 replies
0 views

I was a resident alien until very recently, by which I mean I have paid tax to IRS diligently and will do until when I relived form those obligations. Now, I am just a foreigner with a couple of bank accounts in the US. I'm wondering how I can get my money from those banks to my bank here. (My country has some tax treaties with the US -- no 30% tax in case if some earned money involved but I'm not working in the US now.) IRS is aware of my money in a foreign bank account because I file FBAR every year. I appreciate your help about how to transfer my money in the US bank to my bank account here. I appreciate your help!

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ErnieS0

Contact your bank. You should be able to close your US accounts and either have your money wired to your foreign bank or have your US bank send you a check that you can deposit.

The 30% withholding only applies to earnings. There is no withholding if you are transferring your own money overseas.

If you have withholding on earnings you should file a Form 1040NR. TurboTax does not support this form, but you can prepare a nonresident return with our partner Sprintax.com.

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pillittoAuthor

Ernie50, thanks for your reply. I feel relieved. I will contact my banks in the US! You have a wonderful day!

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bentriviani

what foreign account do you mean?

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pillittoAuthor

Thanks for your response, bentriviani, but I don't understand the meaning of your question. Do you mean which country's bank account I mean when I say "foreign bank account?"