How Do I Bring Money to the U.S. After Selling Property Abroad?
There is no U.S. law preventing you from wiring the proceeds of a foreign property sale to a U.S. bank account. The transfer itself is not a taxable event. However, the capital gain on the sale is taxable on your U.S. return regardless of whether you bring the money home, and large transfers trigger bank reporting and may affect your FBAR and Form 8938 obligations.
What happens when you wire the money:
| Amount | What gets triggered |
| Any amount | Capital gain is already taxable on Form 1040 in the year of sale |
| Wire over $10,000 received by a U.S. bank | Bank files Currency Transaction Report (CTR) automatically |
| Aggregate foreign accounts over $10,000 at any point in the year | FBAR (FinCEN 114) |
| Foreign financial assets above FATCA thresholds | Form 8938 |
Common misconceptions:
- “I only owe tax when I bring the money to the U.S.”: Wrong. U.S. citizens and green card holders owe tax on worldwide income in the year it is earned, not when it is repatriated
- “The wire transfer is taxed”: Wrong. The wire itself is not income. The taxable event was the property sale
- “I need to report the wire to the IRS”: Not directly, but the receiving bank may file a CTR, and large foreign account balances in the year of sale often push you above FBAR and FATCA thresholds
Practical steps for a smooth transfer:
- Notify your U.S. bank before sending a large international wire to avoid holds or account freezes
- Keep closing documents: Sale contract, notary records, wire confirmations, and exchange rate documentation
- File FBAR if the foreign account holding proceeds (even briefly) caused your aggregate foreign accounts to exceed $10,000 at any point during the year
- Claim the Foreign Tax Credit on Form 1116 for any foreign capital gains tax paid on the sale
For foreign property sale tax planning, see our Buying and Selling Real Estate Abroad.
Last updated on April 29, 2026
