Do banks in the U.S. accept electronic wire deposits from foreign banks? What information are they required to give to the IRS or Federal Government?
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It is quite common for U.S. banks to receive wire transfers that have originated with foreign banks. Most banks, however, will only accept incoming transfers payable to their deposit account customers.
Ordinarily, receipt of a wire from a foreign source does not trigger a require a bank to report anything to anyone other than its customer. There may be exceptions, however.
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It is quite common for U.S. banks to receive wire transfers that have originated with foreign banks. Most banks, however, will only accept incoming transfers payable to their deposit account customers. 