Hi Folks,

Receive Money from Nepal:

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            IF I need some money from Nepal, can it be deposited transferred from Nepal to my US account?Is there any limit or IRS fees for doing so?

I read that up to 100k can be received as gift.

 

Send Money to Nepal:

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Is there any limit or IRS fees to send money to Nepal except the transfer fees?

 

 

Thanks

 

If anyone is knowledgeable on this issue, please reply your post.
thanx

Hey buntu, you can easily have money transfered from nepal to your bank account here.you just need the routine number and account number.

To Whom It May Concern,

You can't basically get money from Nepal transferred to your US account number unless it's supported by necessary legal documents. You can make Bank Draft issued in the name of US college to be paid here or a Letter of Credit drawn in the favour of company who supplies goods to Nepal. It's the situation in most of developing nations as easy exchange of foriegn currency may bring in chaos and many financial irregularities. Reportedly there are informal channel as such Hundi where you can deposit the money in Nepal to an agent and receive equivalent dollars in US through the agent  of same firm here. But be informed that without any specific purpose, you can't easily get money here in your account though there's no restriction in sending money to Nepal from US.

 

To Whom It May Concern,

You can't basically get money from Nepal transferred to your US account number unless it's supported by necessary legal documents. You can make Bank Draft issued in the name of US college to be paid here or a Letter of Credit drawn in the favour of company who supplies goods to Nepal. It's the situation in most of developing nations as easy exchange of foriegn currency may bring in chaos and many financial irregularities. Reportedly there are informal channel as such Hundi where you can deposit the money in Nepal to an agent and receive equivalent dollars in US through the agent  of same firm here. But be informed that without any specific purpose, you can't easily get money here in your account though there's no restriction in sending money to Nepal from US.

 

As long as you can fax a copy of your I20 to your family which indicates total expenses you need to go to school here, your family wont have no problem sending money through wire transfer.

Under Foreign currency regulation you need permission from NBR and will be limited to the amount on I-20. If you send chunk of money( over 10K) to Nepal but your inoformation is provided to IRS.