How to Transfer Money from Your US LLC to United Kingdom
Complete guide to sending money from your US business bank account to United Kingdom (GBP). Compare fees, speeds, and regulations for United Kingdom-bound transfers.
Quick Facts
In This Guide
Overview
If you own a US LLC and need to transfer money to United Kingdom, 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 United Kingdom
The UK has a highly developed banking system with easy international transfer infrastructure. Faster Payments system enables near-instant domestic transfers. UK banks are very familiar with US transfers.
Best Transfer Methods
Wise
Wise is UK-headquartered. Fastest and cheapest option for GBP transfers.
Bank Wire (SWIFT)
Standard for large amounts. Sort code (6 digits) + account number (8 digits) required.
OFX
Good for large transfers. UK-regulated.
Revolut
Great rates but weekend markup applies. Good for Revolut users.
Fees & Speed Comparison
| Service | Fees | Speed | FX Rate |
|---|---|---|---|
| Wise | 0.3–0.7% | Within hours | Mid-market rate |
| Bank Wire (SWIFT) | $25–$40 | 1–2 business days | 1–2% markup |
| OFX | No transfer fee | 1–2 business days | 0.4–0.8% markup |
| Revolut | 0–0.5% (depends on plan) | Instant to Revolut, 1 day to bank | Mid-market on weekdays |
Regulations & Requirements
When transferring money to United Kingdom, be aware of these regulatory requirements:
- FCA regulates financial services including international transfers
- No foreign exchange controls
- HMRC may request source of funds documentation for large transfers
Common Pitfalls to Avoid
- Sort code format is XX-XX-XX (6 digits with hyphens)
- IBAN is used for European transfers but UK domestic uses sort code + account number
- Post-Brexit, some EU transfer services may not work for UK accounts
Tax Implications
Transferring money from your US LLC to United Kingdom has important tax considerations on both sides:
- No US withholding on LLC distributions (disregarded entity)
- UK residents must report worldwide income to HMRC
- US-UK tax treaty is comprehensive
- FBAR filing required if aggregate foreign accounts exceed $10,000
Pro Tips for Transferring to United Kingdom
- Wise is headquartered in the UK — fastest GBP transfers available
- For large amounts, compare OFX with Wise for the best rate
- UK sort code can be found on bank statements or online banking
- Consider opening a Wise multi-currency account for ongoing transfers
FBAR & US Reporting Requirements
FBAR (FinCEN Form 114): If you have foreign bank accounts (including in United Kingdom) 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 United Kingdom.
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.
United Kingdom LLC Tax Guide
Complete tax guide for United Kingdom residents who own a US LLC.
Get Tax Filing Reminders
Never miss a deadline. Get reminders for Form 5472, FBAR, and other filing deadlines.
Set Up Reminders