Hello. I have a question regarding financial reporting requirements. My Polish father in law sold his farm and wants to give 175k to my 19 year old son as a preinheritance gift. He would be giving it directly to him and I would have no control or access to the money. In reading DOS reporting requirements for TS it seems that they state that if I were to receive a gift it has to be reported but not my adult age son. Like to do the right thing and if it means postponing the gift for a bit until I retire in a couple years to be safe then so be it. Like to stay in complainace, keep family happy, and also keep my job. He would report it to the IRS for sure as is required. Many thanks for your thoughts on the matter.
The gift would need a tax professional but with that said, I would report the son getting money from the father in law to DoS security with the explanation you provided.
BLUF; you probably don’t need to report this action reading the letter of the law. But reporting this unusual transnational transaction would prevent any surprise with DoS Security later believing you and/or your spouse were trying to hide/bypass reporting large funds coming from an OCONUS location. You really want Security to reply “okay, thank you” versus a DoS agent calling you for a “meeting”.
Does he live with you?
No. He is in college out of state.
This may be tricky since he is still your dependent. If you currently hold a clearance you should just speak to your security manager or SSR.
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