Transfer money from NRE account to USA checking account

[mathews567]

Hi,


I want to transfer my savings > 100k from my NRE account to USA checking account. The money in my NRE account was from my USA checking account only.

I am already paying tax in US for the interest earned, declared account in tax return and also filing FBAR yearly for the NRE Account.


I would like to clarify the following.


1) Can I wire transfer money from my NRE account to USA checking account?

2) Is there any restrictions for transferring money?

3) After transferring, do I need to file any forms to IRS regarding money transfer?

4) Do I need to file any forms as part of tax returns for this transfer.

5) Do I need to inform my local bank in USA regarding the transfer in advance?

6) Any other legal formalities for this money transfer


Thanks in advance. Appreciate your help.

Mathew

[vikky789]

Hi,


I want to transfer my savings > 100k from my NRE account to USA checking account. The money in my NRE account was from my USA checking account only.

I am already paying tax in US for the interest earned, declared account in tax return and also filing FBAR yearly for the NRE Account.


I would like to clarify the following.


1) Can I wire transfer money from my NRE account to USA checking account?

2) Is there any restrictions for transferring money?

3) After transferring, do I need to file any forms to IRS regarding money transfer?

4) Do I need to file any forms as part of tax returns for this transfer.

5) Do I need to inform my local bank in USA regarding the transfer in advance?

6) Any other legal formalities for this money transfer


Thanks in advance. Appreciate your help.

Mathew

do you file just FBAR or do you file FATCA form too? becasue FATCA needs to be filled when foreign savings > $50k.