best way to bring my money to america?

[Donna A 4]

if im not mistaken u only get taxed on the interest u earn on the money but not the money itself.

[regholdsworth 0]

Hey guys!

I have an add on question to this (and I did try to find the info already!)

I have a lump sum (The marvelous SSIA for you irish hanging around) that I want to transfer.

If I transfer it now, into my Fiance's account, will he be taxed as it is above the annual tax free gift limit.

If I transfer it later, into my own account, will I be taxed again? Its all clean money and I've paid tax on it here in Ireland

Thanks for replies or points in the right direction!

HSBC offshore also does Euro accounts so that may be an otpion, see link above. You can exchange some or all in as Dollars now to gain access but you will basically have it available to do what you want with before or after you move.

And no i don't work for bank but i use this account and it has been very useful

[Krikit 1,163]

Quite a number of us use Custom House. I believe xe is affiliated with them, also.

Personally, I would wait until you are married and and transfer it then because the gift tax does not apply to spouses. Also, according to the IRS, your fiancé does not have to report the gift. Since you are not here, yet, I can't see where there would be a problem but I am certainly no tax accountant.

[VisaJourneyLady 33]

Regholdsworth - HSBC probably isn't any good to her, cos they don't have them in Ireland.

Slightly Bonkers - well done for hanging on to your SSIA for this long, I'm actually also going to use up the last of it on this move, but happy to have it. (Forty Coats would be proud!!)

Oh and also Kritkrit sounds like she knows what she's talking about on the IRS front, so I'd take her advice on the transferring business