[Show all top banners]

seeker67
Replies to this thread:

More by seeker67
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 Need to send 50K to Nepal
[VIEWED 11483 TIMES]
SAVE! for ease of future access.
Posted on 04-30-16 5:21 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Folks, I need to send 50K to Nepal to invest on a property but am not sure how to. Researched a bit on the transfer matter and found it's difficult to send that amount of money. Has anyone here sent that much of money? How about sending as a gift to 4 different people? I think any sum less than 14K is exempt to gift tax, right? Or, how frequent I can transfer sum less than 10K, can I do 5x 9999 transfers in a month? Pleas share your experiences. Thanks and Jay Nepal!!
 
Posted on 04-30-16 10:19 PM     [Snapshot: 219]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

It should not be difficult if its white money. Gift tax is only annual reporting requirement for 14k and lifetime exemption is in millions. If you are buying yourself, its not a gift, its an investment.
 
Posted on 05-01-16 6:13 AM     [Snapshot: 383]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

As far as I know, banks do report the transactions, so it won't help if you do 5 x 9999 transfers. IRS will know that. However, if you send 14000 to four different people, then you are fine. You can gift 14000 each to as many people as you want without any gift tax implications. However, if you have a bank account in Nepal, you can transfer it to that account, you can transfer all at once. I'm not an expert in this matter, just a disclaimer. I suggest you spend a couple of hundred bucks and schedule an appointment with a tax attorney. He/she will tell you the ways to legally avoid troubles with IRS.
 
Posted on 05-01-16 8:22 AM     [Snapshot: 481]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Bank of America can transfer that amount of money on single transaction.
 
Posted on 05-01-16 9:03 AM     [Snapshot: 544]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Thanks mates for inputs. BTW, can I send "gift" as a regular money transfer process via IME or moneygram or muncha? Can I make all 4 transactions at the same day or there should be an interval for each transaction? Thanks!
 
Posted on 05-01-16 9:04 AM     [Snapshot: 536]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 


If your money is not illegal , you should not be worry about IRS.
9999 rules may not apply as it shows a pattern and within a short span of time.
It also applies the same rules who ever individual receiving money in US. Indi

 
Posted on 05-02-16 8:26 PM     [Snapshot: 913]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Inbox me with your number. I need to bring significant $$ from Nepal, perhaps we can work something out.
 
Posted on 05-03-16 10:16 AM     [Snapshot: 1097]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

year 2013 - transferred 45K to Nepal via BoA to just one person without a trouble. It will ask you a reason and i simply put "Family help". Also many other smaller transaction between 22k -2k ..no issues .....Why people worry when you know you have not done any wrong...
When you send, send money in the currency of sender (that is $) not receiving party currency. They will give you very low exchange rate. When the currency is send in $$$, the bank in Nepal gives you the equivalent Nrs at their bank rate which is much higher. Don't send money as investment otherwise you will have to report in tax filing (not sure how it works but during tax filing it always ask this question); just send as family help. BoA charged me $48.00 and I believe it is flat rate. so if you do smaller transactions its not worth it. Go to Walmart send via MOneyGram and the charge is $ 9 for upto 8-9K

hope this helps
 
Posted on 05-03-16 9:13 PM     [Snapshot: 1221]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Thank you Stupida. I will do the same. Thanks again!
 
Posted on 05-03-16 10:30 PM     [Snapshot: 1264]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

inbox me your email. may be i can help you with.
 
Posted on 05-04-16 5:31 AM     [Snapshot: 1336]     Reply [Subscribe]
Login in to Rate this Post:     1       ?     Liked by
 

Just send it thru bank or money transfer agents. For 50k, u don't wanna go thru the risk dealing with the strangers. Anything above 10k has to be reported by the bank or agents, it has nothing to so with the tax. They might need just your income source details to prove that it's not about money laundering.
 
Posted on 05-04-16 9:40 AM     [Snapshot: 1436]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

@raj.pkr I just inbox you ..
 
Posted on 05-09-16 7:05 PM     [Snapshot: 1645]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

I tried to send money few days ago through bank but it did not went through. The Bank told me i also need to have Intimidatory bank information (A/c no). I did not understand we they need intimidatory bank since i provide them the direct a/c no. could someone explain me how these works. which bank in nepal acts as an Intimidatory bank. Thank you
 
Posted on 05-09-16 7:18 PM     [Snapshot: 1664]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

U need Swift code for the bank and the account number. That should be enough for transfer. I had the same issue with bank asking for secondary AC number. But that is not right. Later I insisted again to check the procedure, and it went through. Make sure u talk to someone in the bank that knows abt Swift code transfer. Regular bank employees seem to lack those info.
 


Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 365 days
Recommended Popular Threads Controvertial Threads
Lets play Antakshari...........
शीर्षक जे पनि हुन सक्छ।
NRN card pros and cons?
What are your first memories of when Nepal Television Began?
TPS Re-registration
Democrats are so sure Trump will win
is Rato Bangala school cheating?
What Happened to Dual Citizenship Bill
Basnet or Basnyat ??
We live in precarious times
H1B fraud
nrn citizenship
इन्दिरा जोशीको चिन्ता लौच
Sajha has turned into MAGATs nest
Nas and The Bokas: Coming to a Night Club near you
श्राद्द
सेक्सी कविता - पार्ट २
डलराँ कमाएर ने .रु मा उडांउदा !@#
ChatSansar.com Naya Nepal Chat
Why always Miss Nepal winner is Newari??
Nas and The Bokas: Coming to a Night Club near you
राजदरबार हत्या काण्ड बारे....
Mr. Dipak Gyawali-ji Talk is Cheap. US sends $ 200 million to Nepal every year.
Harvard Nepali Students Association Blame Israel for hamas terrorist attacks
TPS Update : Jajarkot earthquake
is Rato Bangala school cheating?
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.

Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters