Question

Transfer cash from US to oversea as nonresident alien

Forum|Forum|4 years ago
November 18, 2021
1 reply
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Hi,

I would like to figure out what tax form I need to file and if any tax has to be paid in the following two scenarios.

1) If I, as a nonresident alien transfer cash in my US account to my parent's (foreigner) account in foreign country, do I have to file form 709? Is there a annual exclusion or lifetime exemption?

2)If I, as a nonresident alien transfer cash in my US account to my account in foreign country, do I have to file any form?

Thank you for your time.

Not A Product Question

P

pk12_2

Employee

@ZoeY4

1. you as a Non-Resident Alien , residing in the USA and not having met the substantial presence test , you are taxed only on US sourced/connected income. You also have no requirement to file a 709 ---- you file only form 1040-NR for your yearly US taxes.

2. you as a Non-Resident Alien have no requirement to file form 114 ( FBAR ) for owning a foreign bank account that meets the threshold of equal/ more US$10,000.

When did you enter this country and with which visa ? We need to make sure that you are indeed a Non-Resident Aline and NOT Resident for Tax Purposes -- yes ?