How to Transfer Money from Your US LLC to Thailand
Complete guide to sending money from your US business bank account to Thailand (THB). Compare fees, speeds, and regulations for Thailand-bound transfers.
Quick Facts
In This Guide
Overview
If you own a US LLC and need to transfer money to Thailand, you have several options ranging from traditional bank wires to modern fintech services. The best choice depends on the transfer amount, urgency, and whether you prioritize low fees or fast delivery.
Important Note for Thailand
Thailand has moderate foreign exchange regulations managed by the Bank of Thailand. THB transfers are generally smooth. Bangkok Bank, Kasikorn Bank, and SCB are well-equipped for international transfers.
Best Transfer Methods
Wise
Best overall option for THB transfers.
Bank Wire (SWIFT)
Thai bank account number + SWIFT code required. Bangkok Bank has strong international presence.
DeeMoney
Thailand-focused transfer service with good rates.
Remitly
Good for personal transfers.
Fees & Speed Comparison
| Service | Fees | Speed | FX Rate |
|---|---|---|---|
| Wise | 0.5–1.2% | 1–2 business days | Mid-market rate |
| Bank Wire (SWIFT) | $25–$45 | 1–3 business days | 1–2% markup |
| DeeMoney | Low (specialized Thailand service) | 1–2 business days | Competitive |
| Remitly | $1.99–$4.99 | 1–3 business days | Competitive |
Regulations & Requirements
When transferring money to Thailand, be aware of these regulatory requirements:
- Bank of Thailand regulates foreign exchange
- Transfers over $50,000 require documentation
- Foreign currency deposits over $50,000/year have reporting requirements
- No restrictions on receiving international transfers for personal use
Common Pitfalls to Avoid
- Thai bank account numbers are typically 10 digits
- Thai banks may ask for purpose of transfer (select 'other' or 'income')
- Transfers during Thai holidays (Songkran, etc.) will be delayed
- PromptPay (Thai instant payment) cannot receive international transfers
Tax Implications
Transferring money from your US LLC to Thailand has important tax considerations on both sides:
- No US withholding on LLC distributions (disregarded entity)
- Thailand taxes foreign income only if remitted in the same year it was earned
- US-Thailand tax treaty provides favorable treatment for certain income types
- FBAR filing required if aggregate foreign accounts exceed $10,000
Pro Tips for Transferring to Thailand
- Wise is the clear winner for THB transfers
- Bangkok Bank has offices in the US (New York) for easier SWIFT transfers
- Avoid transferring during Songkran (mid-April) week
- Keep transfer receipts — Thai tax authorities may request them
FBAR & US Reporting Requirements
FBAR (FinCEN Form 114): If you have foreign bank accounts (including in Thailand) with an aggregate balance exceeding $10,000 at any time during the year, you must file an FBAR by April 15 (automatic extension to October 15).
FATCA (Form 8938): If your foreign financial assets exceed $50,000 at year-end (or $75,000 at any time), you must report them on Form 8938 with your tax return.
Form 5472: Your foreign-owned LLC must file Form 5472 annually to report transactions with foreign related parties, including transfers to your account in Thailand.
Next Steps
File Form 5472
Report your LLC's transactions with foreign owners. Required annually.
FBAR Guide
Learn about foreign bank account reporting requirements.
Open a US Bank Account
Guide to opening a US business bank account for your foreign LLC.
Thailand LLC Tax Guide
Complete tax guide for Thailand residents who own a US LLC.
Get Tax Filing Reminders
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