{"id":750330,"date":"2020-05-08T17:02:36","date_gmt":"2020-05-08T21:02:36","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=750330"},"modified":"2026-03-09T18:30:34","modified_gmt":"2026-03-09T22:30:34","slug":"taxes-regulations-on-large-money-transfers-to-us","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/international-money-transfers\/taxes-regulations-on-large-money-transfers-to-us","title":{"rendered":"Tax guidelines and regulations for sending large money transfers to the US"},"content":{"rendered":"

If you\u2019re planning to transfer more than $10,000 USD to the States, a money transfer service<\/a> can help you save on fees. Be aware that your recipient will need to report the transfer to the US government.<\/p>

Do large transfers have to be reported in the US?<\/h3>

Yes. No matter where in the States your recipient lives, if they\u2019re receiving more than $10,000 USD while in the US, they\u2019ll need to abide by US laws put in place to both protect both their money and the interests of the American government.<\/p>

By law, banks report all cash transactions exceeding $10,000 USD \u2014 and any transaction of any amount that alerts their suspicions. Money transfer businesses, which often solely send money between countries, sometimes have reporting thresholds as low as $1,000 USD.<\/p>

US law requires banks and money transfer companies to report:<\/p>