FACTA and Powers of Attorney
Moderator: Mark T Serbinski CA CPA
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FACTA and Powers of Attorney
I'm subject to FACTA reporting. My mother is a Canadian citizen, living in Canada. If she has a POA document that makes me POA when a Doctor says that she is no longer capable of handling her own affairs -- do the FACTA reporting requirements for her accounts only kick in when that test is met.. or do they start as soon as the POA document is created?