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It is easy to get your money into an offshore account, but unless they have an AML
agreement with the U.S., it is difficult to get your money out. Call a bank and prepare
yourself for them to ask for your social and review income tax returns for section about
reporting foreign held accounts. They will even ask in some cases for documentation
supporting your method of income for file.
To send cash overseas, you leave a paper trail of checks, money orders, or electronic
transfers. Checks would be routed through your bank via the Federal Reserve, as would
electronic transfers. Money orders would work, but be sure to destroy the stub as soon as
the deposit is posted to the account.
Offshore banks are tricky, so become very educated and savvy before jumping into this
arena. Many have laid a thin trail that caused a lot of grief. It's not cheap, at least for the
good ones, and is absolutely rife with scammers and "perpetual travelers" who cannot be
easily held to account for losing your money. You either need to do this completely off
the radar – which subjects you to the scammers – or do it above board which then
requires a lot of expensive tax filings to report everything.
