transfer properties before residency

ikeaidea · Post by **ikeaidea** » Mon Nov 05, 2012 3:12 pm

I have some question about residency and assets transfer before that. EB 5 (investor immigrant visa) holder, wil not enter US until next 2013, and will not get physical green card until he arrived in 2013. Does it mean in 2012, he is still nonresident foreigner and could transfer /gift any assets to others without any issue in US tax, including 1040, TD F, 706, and etc..?

Thanks.

nelsona · Post by **nelsona** » Mon Nov 05, 2012 6:58 pm

That is correct. Why would you think otherwise?

ikeaidea · Post by **ikeaidea** » Mon Nov 05, 2012 7:11 pm

Thanks Nelsona. Since it is intentionally transfer assets to avoid filing requirement or tax when he as a resident, just want to make sure there is no restriction on this tax planning.

nelsona · Post by **nelsona** » Mon Nov 05, 2012 7:33 pm

For US, no. Of course one would need to look at the rules of the other 2 countries involved,

ikeaidea · Post by **ikeaidea** » Mon Nov 05, 2012 7:48 pm

Thanks nelsona. There is no rules for the other country.

nelsona · Post by **nelsona** » Tue Nov 06, 2012 10:42 am

Note I said other countries. Since you say only "other country" this implies (to me) that the transfer is being done TO the US. This may have reporting requirements for the person already in US.

ikeaidea · Post by **ikeaidea** » Tue Nov 06, 2012 1:38 pm

Yes, I understand what you mean. There is no other US person or property involved. Thank you very much!