What to expect when it comes to inheritance taxes
While every effort is made to ensure this content is up to date and accurate, this information provided by OFX does not take into account your specific financial objectives and requirements. Beneficiaries of an inheritance from abroad must seek specific advice from tax professionals in the local jurisdictions to ensure that all applicable taxes are paid in a timely manner. OFX does not provide tax or financial advice.
Inheritance taxes can be confusing because they vary from one country to the next. Also, many times, the executor will be responsible for paying the tax on the estate, so the beneficiary might not be required to pay any inheritance taxes after all (unless the beneficiary is also the executor). To learn more about the inheritance tax rules in the U.S., it is recommended that you consult with an experienced financial advisor, as there might also be federal or state level estate taxes that may apply to your inheritance.
In the United States, whether or not you will need to pay taxes on your inheritance from overseas may depend upon where the deceased lived prior to his or her death, if any tax treaties are in place, and how much you are inheriting. Read here for more information on moving your inheritance
to the USA.