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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121096  
Subject: Re: Trasferring money in to US Date: 1/4/2002 10:41 PM
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I'm moving from UAE (Dubai) where we pay no taxes :o)))) to US, and need to move a large sum of money to US. Are there any implications about this? Will there be questions raised about ts source? I am a UK citizen

There are no tax implications. I'm pretty sure there are Customs declarations to be made if you bring a lot of cash into the US, but I'm not sure about the rules. You might find some information at www.customs.gov. Large cash equivalent transactions must be reported to the government, but they don't generate any tax liability in and of themselves.

In short, I don't think you have anything to worry about as you move assets into the US. I do suggest some reading in the Internal Revenue Service's Publication 519, which you can download from the Forms and Publications section of www.irs.gov.

Phil Marti
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