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Subject:  Re: purchase foreign property, send money legall Date:  5/20/2013  12:34 AM
Author:  JeanDavid Number:  118615 of 123001

My question is: can I simply write a personal check with say, $150,000 USD for the down payment from my checking account? This money is already taxed. Do I need to report this money or fill out any forms?

In about 1996, I had occasion to write two $25,000 checks on my New Jersey checking account to a financial house in Switzerland to buy single payment annuities denominated in Swiss Francs. At that time, all transactions like that ($10,000 and over) had to be reported to the IRS, but I did not have to do it, my bank did. It was legal to send such payments to most countries (Cuba was not one of these), but the transfer had to be reported.

Also at that time purchasing an annuity on a U.S. company did not require any particular reporting require