Wire transfer from Canada to US bank account question.

[peace123]

Does bank account money wire transfer from Canada by a Canadian citizen to  me here in USA and to US Chase bank account  raise any red flags or cause any issue with IRS. Will chase report it to IRS as income?

I am talking about $3k to $4k USD about 3  times within 3 months. Not a large sum of over $4K and it is sent by my family member in Canada.

Thank you

[AsherO]

Does bank account money wire transfer from Canada by a Canadian citizen to  me here in USA and to US Chase bank account  raise any red flags or cause any issue with IRS. Will chase report it to IRS as income?

I am talking about $3k to $4k USD about 3  times within 3 months. Not a large sum of over $4K and it is sent by my family member in Canada.

Thank you

Unlikely IMHO. Officially the only stuff that gets reported are transactions over $10k or transaction patterns that appear to be structured to intentionally avoid the $10k limit. I doubt 3x $3-4k over 3 months qualifies, but it’s an ambiguous definition that would vary based on each bank’s algorithms/criteria. AFAIK they aren’t allowed to tell the customer whether anything was reported.

[CountValentine]

Should not be an issue.

[Mf1]

Btw using a website like wise.com can save u money on fees.
I've used it with no problems

[Yehudaa]

Btw using a website like wise.com can save u money on fees.
I've used it with no problems

+1. I use Wise regularly.

[peace123]

Is it safer to have the money wired to my wife’s bank account  and then she pays me from her chase zelle payment to my chase bank account ? I already received about $6K  wire transfer from Canada  she has not thanks

[AsherO]

Is it safer to have the money wired to my wife’s bank account  and then she pays me from her chase zelle payment to my chase bank account ? I already received about $6K  wire transfer from Canada  she has not thanks

You're probably worrying about this too much. Even if you did trigger a SAR (Suspicious Activity Report), those are still pretty routine (imagine how many $10k+ transactions happen daily in the US) and shouldn't be an issue for you.