Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Tax guidelines and regulations for large money transfers into Switzerland

Both you and your recipient may need to include the transfer on your taxes.



CurrencyTransfer logo
  • Get the best foreign exchange rates available from this online marketplace
  • Fast 1-2 day delivery to bank accounts
  • Price-match guarantee if you find a better price elsewhere
Go to site

Regardless of whether you’re sending cash or a direct bank deposit, transfers over $10,000 need to be reported to the US government, and some Swiss citizens will have to report the transfer to their canton.

How Switzerland regulates large remittances

Switzerland does not impose inheritance or gift taxes at the federal level, which typically affect remittances. However, similar to the US — where our 50 states are separate sovereign mini-governments — the Swiss Confederation comprises 26 cantons, each with varying laws on taxation.

If your recipient lives in a canton with a gift tax, they’ll need to pay them with their normal tax returns. Nearly all cantons exempt spouses, registered partners and children from paying the gift tax. To learn more about which cantons tax international gifts and at what rate, search for your recipient’s canton.

Do I have to report large transfers out of the US?

Yes. If you’re sending more than $10,000 for business purposes you’ll need to file a currency transaction report, and if you’ve given away more than $15,000 for any reason in the past year you’ll need to file a gift tax return.

In the wake of 9/11, banks report all cash transactions to Switzerland that exceed $10,000 — and any transaction that rouses their suspicions. Depending on the circumstances, a money transfer business can be required to report transfers as low as $1,000.

What are the penalties in Switzerland if my recipient fails to file?

Penalties vary by canton, but the government monitors remittances into and out of Switzerland closely — which means your large money transfer is likely to be caught. Encourage your friends and family in Switzerland to declare any large remittance on their general tax returns.

In general, if a Swiss taxpayer fails to file their taxes correctly, the government’s tax authorities can apply a default taxation. This default amount is typically much higher than the actual amount due.

Tax forms for sending more than $10,000 from the US

Compare providers for your next large transfer to Switzerland

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
24 hours

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
24 hours
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Within minutes

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
OFX International Money Transfers (Business)
24 hours

View details
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours

View details
Increase business efficiency with zero transaction fees and same-day transfers.

Compare up to 4 providers

Must read: How much money can I send to Switzerland?

Legally, you can send as much money as you want to Switzerland. However, some transfer providers will set their own limits. If you plan to initiate a large transfer, XE is a secure provider with no maximum transfer limit.

How will my recipient in Switzerland get the money?

How your Swiss family or friends actually receive your money depends on the provider you choose and how you’ve chosen to deliver it. In Switzerland, convenient delivery options include bank transfers, cash pickup and transfer to mobile wallets.

If picking up the money in person, your loved ones may need to show government-issued ID or a confirmation number to prove they’re the intended recipient.
How to send money to Switzerland

Bottom line

If you’re gifting a large sum of money to someone in Switzerland, both you and your recipient may need to include it on your tax returns. While you won’t have to actually pay any taxes in the US unless you’ve gifted more than $11.18 million, your recipient might, depending on what canton they live in. To help recoup some of the cost, make sure you’re choosing an international transfer provider with competitive exchange rates and fees.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site