Interesting article in G&M today about renunciation
Moderator: Mark T Serbinski CA CPA
"New rules require all Americans to report their foreign bank and brokerage accounts every year."
What new rules are those? US citizens have had to file FBAR for MANY years.
Ignorance was bliss, I guess.
What new rules are those? US citizens have had to file FBAR for MANY years.
Ignorance was bliss, I guess.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
http://www.theglobeandmail.com/globe-in ... le2205001/
As this atricle more accurately points out "More recently, the IRS has demanded that Americans also annually disclose the content of all their foreign bank, brokerage and pension accounts – a measure put in place to prevent both tax evasion and money laundering."
The key word being "content", especially mutual funds and stocks.
As this atricle more accurately points out "More recently, the IRS has demanded that Americans also annually disclose the content of all their foreign bank, brokerage and pension accounts – a measure put in place to prevent both tax evasion and money laundering."
The key word being "content", especially mutual funds and stocks.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best