r2i forum

Thanks all for the replies. To clarify, the account is in sibling's name only. Re: form 3520 - I believe this is required only if amount is more than $100K/year? If amount is more than that, will my wife need to pay taxes in US? We can always do two transactions less than $100K each over two years ...

My wife's mother passed away a few years ago and passed on some inheritance to my wife. So far the money (more than $100K) has been deposited in her sibling's name since then. Now we are planning to create an account in India for my wife and move the money from her sibling's name to my wife's name ...