Int'l wire transfer from Krung Thai Bank to US

[maxman71]

Question for those with relevant knowledge: I will soon (within a month or so) be needing to wire transfer about 2-3 million THB from my personal account with Krung Thai Bank in Thailand to my personal account in the US, for the purpose of buying out my sister's share of a family enterprise in the US. I have had the Krung Thai account for over 8 years and it has been reported to the IRS in the US every year via the FBAR and Form 8938.

Does anyone know if I will have a problem with executing this transfer ?

Thanks !

[keeniau96]

This exceeds the US$50k limit on simple transfers so you will be asked for additional documentation re the purpose. If you have a copy of the purchase contract that may be adequate. You will also have to have proof that the money was originally imported into Thailand.

[maxman71]

This exceeds the US$50k limit on simple transfers so you will be asked for additional documentation re the purpose. If you have a copy of the purchase contract that may be adequate. You will also have to have proof that the money was originally imported into Thailand.

Thanks keeniau96...Is that US$50 limit an annual limit, or can I transfer US$50K one day, and then come back a few days later and transfer another $25K ? Or a month later ? I'll have a purchase contract within a couple of months, but I want to be able to cut the check for the purchase upon signing the contract.