Transfer of funds

[Meilander 0]

Not sure how this will work.  My fiance' is a US citizen and she is also a Russian citizen.  Her family owns several properties, one of which is my fiance's but in her mothers name.  If that property is sold, she stands to clear about $50,000 in US equivalent, and she would like to transfer those funds into her USA bank account.  Is there any problems associated with doing this?  And, how long does it take to do such a transfer?  Anyone who has a similar situation or any advice is appreciated.  Thanks 

[sevimli 12]

they would need the wire the money,,,

no questions asked,

took upto 2 days

[JT4/25 38]

19 hours ago, Meilander said:

Not sure how this will work.  My fiance' is a US citizen and she is also a Russian citizen.  Her family owns several properties, one of which is my fiance's but in her mothers name.  If that property is sold, she stands to clear about $50,000 in US equivalent, and she would like to transfer those funds into her USA bank account.  Is there any problems associated with doing this?  And, how long does it take to do such a transfer?  Anyone who has a similar situation or any advice is appreciated.  Thanks 

Its not a problem to transfer money from one bank to another.  Usually takes 2-3 days....and there is just a money conversion fee and sometimes a wire fee.

[Meilander 0]

10 hours ago, sevimli said:

they would need the wire the money,,,

no questions asked,

took upto 2 days

How does the department of revenue or Russian IRS allow money of that amount (say $50,000) without taxing it or do they have forms to allow the transfer to US Banks?

[JT4/25 38]

3 hours ago, Meilander said:

How does the department of revenue or Russian IRS allow money of that amount (say $50,000) without taxing it or do they have forms to allow the transfer to US Banks?

not sure about Russia...but here depending on what kind of account it is....she will get a tax form in the mail by the end of January on the year after its transfered.  For example...if she puts it in a savings account here in 2018...she will get a tax form in the mail in January/february 2019

 

[sevimli 12]

On 1/10/2018 at 12:14 PM, Meilander said:

Not sure how this will work.  My fiance' is a US citizen and she is also a Russian citizen.  Her family owns several properties, one of which is my fiance's but in her mothers name.  If that property is sold, she stands to clear about $50,000 in US equivalent, and she would like to transfer those funds into her USA bank account.  Is there any problems associated with doing this?  And, how long does it take to do such a transfer?  Anyone who has a similar situation or any advice is appreciated.  Thanks 

 

8 hours ago, Meilander said:

How does the department of revenue or Russian IRS allow money of that amount (say $50,000) without taxing it or do they have forms to allow the transfer to US Banks?

 

 

it is YOUR money? right, do you want to pay tax on it?

 

It is not a business transaction.