Good day,
I work for a small Canadian private corporation in Canada (which is subsidiary of British company). I am a dual citizen of US and Canada and regularly file with the IRS, including the annual FBAR. Due to recent organizational changes my employer has asked that I become the main point of contact/signing authority for the financial accounts, lawyers, accountants, etc.
I would NOT be in an Officer/VP/Director, but remain as a "Lead Engineer". I do not have any shares or have any ownership in the company.
Are there any implications for my US taxes? FBAR? Any extra forms I need to fill out? Are there any risks I would be taking by agreeing to this?
Thank you for your help!
Dual Citizen (US/Canada) implications of having signing authority on private corporation accounts
Moderator: Mark T Serbinski CA CPA