France -Forms 104 105 Wants to sell house in USA and

This is a multi-part message in MIME format.
---------------------- multipart/alternative attachment
My question is: US-specific
QUESTION: My house has over $200,000 in equity. If I sell it and move to France, can I take the money with me? What taxes will I pay if any? Can I just wire it to a French bank account by conventional methods? Thanks much.
---------------------------------------------------------------------------
david ingram replies:
Yes, you can take it to France with no problems.
When you sell the house and put the money in the bank, The bank will or should know that the money came from the sale of your house.
The bank will report the deposit to FINCEN on form 4789 (which is still valid until August 31, 2004) or more likely the new form 104 which you can find at:   http://www.irs.gov/pub/irs-pdf/ffc104.pdf
When you then move the money to France by money order or check, the bank or financial institution will report it again.
If you remove more than $10,000 at any one time, the bank will report those transactions as well.
If you decide to carry the cash or transport it out as a cashier's cheque, you have to file form 105 (old form 4790).  You can find the form at:  http://www.irs.gov/pub/irs-pdf/ffc105.pdf
I am not aware of the internal reporting requirements in France.
Interestingly, you are the second person today moving to France.  My 4 PM appointment today sold his Vancouver, BC, CANADA house and is moving to France for two years so that his children can learn French, etc.
=========================================================
Answers to this and other similar  questions can be obtained free on Air every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Cartier Partners and I will be hosting an INFOMERCIAL but LIVE talk show called "ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet at
www.600AM.com 
Local phone calls to (604) 280-0600 - There is a provincial long distance line as well and old shows are archived at the site.
This from ask an income tax immigration planning and bankruptcy expert consultant guru or preparer  from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate:
multi jurisdictional cross and trans border expatriate gambling refunds for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa,  Thailand, Indonesia, Egypt, Antarctica,  Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc.
income tax wizard wizzard guru advisor advisors experts  specialist specialists  consultants taxmen   taxman tax woman planner planning preparer of Alaska,  Alabama,  Arkansas,  Arizona, 
 California Denver  Colorado, Connecticut,  
Delaware District of Columbia Miami  Florida, 
Garland Georgia,  Honolulu Hawaii,  Idaho,  Illinois,
  Indiana  Des Moines Iowa  Kansas  Kentucky, 
 Louisiana  Bangor Maine  Maryland  
 Boston, Massachusetts, Michigan, Minnesota,  
Mississippi,  Missouri,  Montana,  Nebraska,  
Nevada, New Hampshire,  New Jersey, 
New Mexico,New York, North Carolina,  
North Dakota,  Ohio,  Oklahoma,  Oregon. 
Paris,  Rome, Sydney, Australia Hilton
Pennsylvania,  Rhode Island,  Rockwall, 
South Carolina, South Dakota, Tennessee,  
Texas,  Utah, Vermont,  Virginia, 
West Virginia, Wisconsin, Wyoming, 
British Columbia, Alberta, Saskatchewan, 
Manitoba, Ontario, Quebec City, 
New Brunswick, Prince Edward Island, 
Nova Scotia, Newfoundland, Yukon and 
Northwest and Nunavit Territories,  
Mount Vernon, Eumenclaw, Coos Bay 
and Dallas Houston Rockwall Garland 
Texas  Taxman and Tax Guru  and wizzard 
wizard - 
---------------------- multipart/alternative attachment
An HTML attachment was scrubbed...
URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/9f9c17ae/attachment.htm
---------------------- multipart/alternative attachment--

Comments (0)


CEN-TA Cross Border Services - Tax, Visas, Immigration
http://www.centa.com/article.php/UsCaWeekofMon20040503001117.html