OVDI questions

[millerh]

Good evening,

I am hoping that some folks on the forum could help with some OVDI form questions since we're working on the package. I wish we could do a streamlined filing, but we're in the US. A couple of questions, trying not to be long-winded here:

Foreign account or asset statement:

1. For jointly held accounts, do we need one per account or one per person, assuming we are married and jointly entering into the OVDI?
2. Q17 (ODVI FAQ): Should this be changed from 12/31/2010 to 12/31/20xx for each year of filing?

Attachment to OVDI letter:

1. Should the tax payer information at the top of the attachment (page 1) include the information of the spouse also given that we are jointly entering into the OVDI?

Penalty calcs:

1. According to FAQ#45, accounts on which all interest income was reported and taxes paid, will have no penalty. Does this mean such accounts are excluded from the penalty base for the purpose of the penalty calculation?

2. Should the estimated "in lieu of" penalties be paid at the time the package is submitted or when form 906 is signed?

I tried calling the stupid OVDI hotline today and basically, one has to leave a message and they will "try to call you back in one business day". They must be overwhelmed.

Nonetheless, any help would be appreciated.

[calgary-alberta]

You file jointly for ovdi.
ovdi hotline takes message and they will call you back.
Reported accounts with tax paid are excluded from the penalty base for the purpose of the penalty calculation?