This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.
I am a US citizen and a Canadian Resident. During my first year of living in Canada I moved funds from my US bank account to my canadian bank account. I did this via personal check that was more than $10,000. I just wrote out the check and deposited it my Canadian bank. The check cleared and it was no problem.
My question is whether I am responsible for reporting this transaction or -- as in the case of wire transfer -- the banks report it to the IRS themselves.
I do fill out the yearly TDF 90-22.1.
The banks take care of this. Yo uare only required to report when you carry large sums of untraceable money (cash, thrd-paty endorsed checks, etc) across the border.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing