I am planning to wire transfer large amount of money ( > $100,000 ) from US to my parents in China. Any potential problems I may run into? Of course this is all hard earned money, so no money laundering here. My concern is: 1. Do I need to pay taxes on this money in US? 2. Does China allow this amount to be withdrawn from my parents account? Is there a limit on how much money I can transfer?
I am doing so to take advantage of potential appreciation of RMB and maybe buy a house in China.
Wire Transfer Large Amount of Money to China
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FBI and IRS will come knocking
-naivelamb-
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10/28/2005 postreply
10:32:41
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Nothing will happen, but ...
-煤格-
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10/28/2005 postreply
13:45:23
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去年转了15万回国买房子,很顺利。
-1266-
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10/28/2005 postreply
19:48:07
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if wire to parents, might
-24242-
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10/29/2005 postreply
16:17:06