California  |  International Law

Legal Question

Asked on: 2/06/13, 8:39 pm

I received inheritance in Iran how can I bring that money to US?

1 Answer

Answered on: 2/07/13, 10:11 am by Robert Kubler

See the Office of Foreign Assets Control (OFAC).

The Iranian Transactions Regulations like all U.S. trade sanctions are very complex and broad. For instance if you have property you need permission to sell it from the Department of Treasury Office of Foreign Assets Control. Also you cannot hire any agent or have family sell it for you without permission and who buys it also is regulated.

If it is only money it is easier. But note direct wire transfers from Iran to US is illegal. Keep in mind, however, that there is a great deal of risk involved when transferring money from Iran to the U.S. Thus contact Office of Foreign Assets Control for help. When and if you're able to get it here you have to properly account for it on your taxes or possibly face steep penalties of 25% or more.

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