Moving back to the UK after 25 years in US
Apr 3rd 2021, 10:49 pm
#17
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Re: Moving back to the UK after 25 years in US
how did you transfer your money initially when you moved to the UK. We will have the proceeds fro the sale of our house and it is way over the 10,000 limit. or is that just a cash limit?
Apr 4th 2021, 7:38 am
#18
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Re: Moving back to the UK after 25 years in US
https://wise.com/nl/?sourceCurrency=...urceAmount=500
Apr 4th 2021, 2:43 pm
#19
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Re: Moving back to the UK after 25 years in US
I do use a correspondence US address for the Brokerage holding our IRAs but I’m not sure it is necessary, although I believe not having a US bank would be a problem. For my 2 US private pensions they only have my UK address but again they pay into my US bank. Our US bank only has our UK address.
At a webinar this week by Greenback Taxes this question or similar was asked and they suggested that if you don’t have a relative or friend whose address you could use then a mail forwarding service doesn’t cost very much and is a street address rather than a PO Box. Good info for me because our daughter plans to leave the USA in 5 to 10 years time should I need to maintain a US address for the brokerage.
At a webinar this week by Greenback Taxes this question or similar was asked and they suggested that if you don’t have a relative or friend whose address you could use then a mail forwarding service doesn’t cost very much and is a street address rather than a PO Box. Good info for me because our daughter plans to leave the USA in 5 to 10 years time should I need to maintain a US address for the brokerage.
Apr 5th 2021, 7:39 pm
#21
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Joined: Mar 2021
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Re: Moving back to the UK after 25 years in US
There are no cash limits to what you can bring over. We use Wise normally but for the big one-off transfer of house money we used our bank and asked for the “dealing desk” rate.
https://wise.com/nl/?sourceCurrency=...urceAmount=500
https://wise.com/nl/?sourceCurrency=...urceAmount=500
Oh, I was lead to believe that $10,000 was the cash limit. is there paper work for more than $10,000
thanks for teh wise link.
Apr 5th 2021, 8:23 pm
#22
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Joined: Jan 2017
Location: Connecticut
Posts: 107
Re: Moving back to the UK after 25 years in US
I do use a correspondence US address for the Brokerage holding our IRAs but I’m not sure it is necessary, although I believe not having a US bank would be a problem. For my 2 US private pensions they only have my UK address but again they pay into my US bank. Our US bank only has our UK address.
At a webinar this week by Greenback Taxes this question or similar was asked and they suggested that if you don’t have a relative or friend whose address you could use then a mail forwarding service doesn’t cost very much and is a street address rather than a PO Box. Good info for me because our daughter plans to leave the USA in 5 to 10 years time should I need to maintain a US address for the brokerage.
At a webinar this week by Greenback Taxes this question or similar was asked and they suggested that if you don’t have a relative or friend whose address you could use then a mail forwarding service doesn’t cost very much and is a street address rather than a PO Box. Good info for me because our daughter plans to leave the USA in 5 to 10 years time should I need to maintain a US address for the brokerage.
Apr 5th 2021, 8:41 pm
#23
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: Moving back to the UK after 25 years in US
If carrying more than £10,000 cash into (or out of) the UK you must declare it to customs. If doing an electronic transfer bank to bank your bank will do what is necessary. Very large sums best to contact your receiving bank and advise them is advance so they can get the information they might need. Normally how you obtained the money ( house sale)
Apr 5th 2021, 8:53 pm
#24
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Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,128
Re: Moving back to the UK after 25 years in US
If carrying more than £10,000 cash into (or out of) the UK you must declare it to customs. If doing an electronic transfer bank to bank your bank will do what is necessary. Very large sums best to contact your receiving bank and advise them is advance so they can get the information they might need. Normally how you obtained the money ( house sale)
Apr 12th 2021, 4:52 pm
#28
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Joined: Mar 2021
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Re: Moving back to the UK after 25 years in US
Hi Russet, do you have a real address in the US? Once we move, we will not have a physical mailing address, but will need to maintain our bank account. any issues having a bank account and no mailing address?
Apr 12th 2021, 7:49 pm
#29
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Joined: Jan 2017
Location: Connecticut
Posts: 107
Re: Moving back to the UK after 25 years in US
We are moving back to the UK next year, so still in the planning process. We will not have a real address in the US, unless we decide to use our daughters' address - but still looking at all the implications/options so we can make the decision.
