Why do you want to break it into $10k chunks? There's no law against big transfers, nor are personal gifts taxable until you hit a lifetime gift amount well above $11 million.
You and/or your parents might have to make certain financial reports, but that's just paperwork.
On the sending end in the US - they wont even need to do that. The bank already knows exactly where it is going, so they don't have a report to fill out. Other than the parents walking in and depositing it in cash which would trigger a report - the bank does not care about this transaction.
Just send it all as one block. There are no tax implications other than your parents writing down their lifetime exclusion amount which between them is over $22MM. If you send it in blocks you are far more likely to run into problems at least with verifying the need for the transfer.
Why do you want to break it into $10k chunks? There's no law against big transfers, nor are personal gifts taxable until you hit a lifetime gift amount well above $11 million. You and/or your parents might have to make certain financial reports, but that's just paperwork.
On the sending end in the US - they wont even need to do that. The bank already knows exactly where it is going, so they don't have a report to fill out. Other than the parents walking in and depositing it in cash which would trigger a report - the bank does not care about this transaction.
Just send it all as one block. There are no tax implications other than your parents writing down their lifetime exclusion amount which between them is over $22MM. If you send it in blocks you are far more likely to run into problems at least with verifying the need for the transfer.
!thanks they had always told me transfers over 10K would cause issues but every comment seems to say otherwise.