{ "media_type": "text", "post_content": "International gifts into a NY 529 account- how does one go about it if the donor (foreign parent making the gift) does not have a US bank account? If the foreign parent transfers the money into the recipient’s US resident’s bank account and the recipient then transfers it into the 529, will there be a tax or other issue? What forms does one need to fill from a tax perspective?", "post_id": "61f04d602e95f4002b62a97c", "reply_count": 2, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }

International gifts into a NY 529 account- how does one go about it if the donor (foreign parent making the gift) does not have a US bank account? If the foreign parent transfers the money into the recipient’s US resident’s bank account and the recipient then transfers it into the 529, will there be a tax or other issue? What forms does one need to fill from a tax perspective?

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I know. And generally the donor has to deposit the money directly into the 529. I’m looking for an answer specifically on how to transfer money from a non US bank account to a NY529.

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15K in gift per annum is tax free

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