- Expat friendly with round-the-clock help
- Get cash to family and friends back home in minutes
- Use promo code FREE to get a free transfer
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated . What changed?
Repatriation of funds involves converting foreign currency into a different country’s currency. It’s a process that many US expats, companies and US workers in foreign countries have to go through. Major banks can help you with overseas payments, but their services can come with high fees that result in significant costs every time you repatriate your funds. Compare your options to discover how to repatriate funds with an international money transfer and save money.
Dedicated money transfer services specialize in moving funds internationally and can offer secure transactions backed by professional customer support.
Follow these steps for the repatriation of funds to the US after comparing your money transfer options:
Take these factors into account when weighing the strengths and weaknesses of transfer specialists and currency providers.
Among the many reasons you might need to send money back to the United States:
Repatriated income is income that is earned abroad and can be repatriated to avoid tax penalties. When it comes to money in general, repatriation is the process of converting foreign currency — regardless of how it’s acquired — into the currency of one’s home country. Some countries restrict how much you can repatriate, and you may need to pay taxes in the US on your repatriated income depending on how much you’re returning home.
If you operate a business in another country, you’ll typically need to periodically repatriate your profits into your company’s home currency. You can avoid losing some of those profits to a weak exchange rate by finding a money transfer specialist that provides strong rates, low fees and flexible options that can protect your regular transfers from market fluctuations.
The repatriation tax rate you’ll pay as a US-based multinationals is based on US corporate tax on foreign profits after those profits are repatriated to the United States. At that time, your income or profits are subject to a repatriation tax. The current US repatriation tax rate is 35%. However, the government periodically enacts repatriation tax holidays that sharply reduce the tax rate in an effort to encourage multinationals to repatriate their overseas profits.
In general, international taxation applies to people or businesses that owe under the tax laws of a foreign country. Repatriating your income from another country to the US could subject your profits to double taxation: once in the country you’ve earned it in and again in the US once it’s in your home currency. To compensate for this double taxation, the US typically provides a credit to US-based multinationals for the foreign income taxes they paid in the earning country.
Don’t be fooled by false promises — here are red flags to watch out for and tips to find a legit company.
You can pay for car insurance in Bitcoin, even if your insurer doesn’t accept it yet.
7 tips for starting a portfolio if you’re new to investing.
Help your child learn to spend and save wisely with a virtual, COPPA-compliant debit card.
Here are our top balance transfer picks for 2021.
Sigue offers speedy money transfers to 50+ countries, but you have to set up a transfer to see the transaction fees.
Look beyond returns by reevaluating how you grow and spend your money
Join Boss Revolution with an email address and phone number, and send money within minutes.
Understanding your money sending options can help you send the most money abroad while the dollar struggles.
Usend combines money transfers, bill pay and mobile phone reloading.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.