YO, Americans, report your bank accounts NOW

[omae mona]

Yo, fellow Americans. Last day to report your foreign bank accounts for 2013, if your total balances ever exceeded $10,000. Word is that the IRS is very serious about this as of late. Officially, fines are listed as up to $250,000 and penalty can include up to 5 years of prison. Probably best not to mess around.

Good news... you have over 12 hours to file still, and you can do it online. There are NO extensions. But the form just takes a few minutes to fill out assuming you don't have lots of accounts. Just have your bank statements or 通帳 / passbook handy, and you should be done in a jiffy.

http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html

(need a copy of Adobe Reader to fill out the form electronically).

Have fun!

[havill]

... and starting tomorrow, Japanese banks will start asking for nationality when you open an account to comply with FATCA.

[Hijinx]

Yo, fellow Americans. Last day to report your foreign bank accounts for 2013, if your total balances ever exceeded $10,000. Word is that the IRS is very serious about this as of late. Officially, fines are listed as up to $250,000 and penalty can include up to 5 years of prison. Probably best not to mess around.

Good news... you have over 12 hours to file still, and you can do it online. There are NO extensions. But the form just takes a few minutes to fill out assuming you don't have lots of accounts. Just have your bank statements or 通帳 / passbook handy, and you should be done in a jiffy.

http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html

(need a copy of Adobe Reader to fill out the form electronically).

Have fun!

As I understand it, you can only do it online. And it's not a total of accounts, it's if any one account is over 10,000 USD, then you have to report all accounts. So if one account has 6,000 and another has 5,000, you don't have to report. Am I correct? At least that's how I read it a couple of years ago.

I should put most of my money in my wife's account and claim I have absolutely no influence or control over it, and keep under 10,000 in my account.

[Coligny]

I should put most of my money in my wife's account and claim I have absolutely no influence or control over it, and keep under 10,000 in my account.

Yea... do that...

[matsuki]

I should put most of my money in my wife's account and claim I have absolutely no influence or control over it, and keep under 10,000 in my account.

Yea... do that...

What do you mean claim??

[havill]

And it's not a total of accounts, it's if any one account is over 10,000 USD, then you have to report all accounts. So if one account has 6,000 and another has 5,000, you don't have to report. Am I correct? At least that's how I read it a couple of years ago.

NO. If the SUM TOTAL of all your accounts exceeds $10,000, you have to file the FBARs.

Source:

http://www.irs.gov/Businesses/Small-Bus ... ounts-FBAR

Who Must File an FBAR

United States persons are required to file an FBAR if:

The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.

Tick tock tick tock.

[matsuki]

Are you enjoying this Havill?

That took all of 10 minutes. Fun fun fun

Good looking out OM, I wouldn't have known I had to file (kicks IPU) if not for this thread.

[Hijinx]

And it's not a total of accounts, it's if any one account is over 10,000 USD, then you have to report all accounts. So if one account has 6,000 and another has 5,000, you don't have to report. Am I correct? At least that's how I read it a couple of years ago.

NO. If the SUM TOTAL of all your accounts exceeds $10,000, you have to file the FBARs.

Source:

http://www.irs.gov/Businesses/Small-Bus ... ounts-FBAR

Who Must File an FBAR

United States persons are required to file an FBAR if:

The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.

Tick tock tick tock.

I stand corrected. The wording changed since I last read it.

[Hijinx]

I should put most of my money in my wife's account and claim I have absolutely no influence or control over it, and keep under 10,000 in my account.

Yea... do that...

What do you mean claim??

Hehe, yeah, that's why I haven't done it. I'll take my chances with Uncle Sam. If I gave my wife financial independence, that be the last I'd see of her. Wait a minute....hmmmm....

[havill]

Are you enjoying this Havill?

I suffered for decades. Allow me to enjoy my little trivial petty moment of legit legal freedom from double taxation.

[omae mona]

Are you enjoying this Havill?

I suffered for decades. Allow me to enjoy my little trivial petty moment of freedom from double taxation.

Yeah but they're giving away toaster ovens along with the FATCA anal probe when Americans open a new bank account. You don't get to get one of those. Nyah nyah...

[wuchan]

T.I.J.

I keep my moneyz in my kimono closet like everyone else.

[yanpa]

T.I.J.

I keep my moneyz in my kimono closet like everyone else.

Where do you keep your dead granny?

[wuchan]

T.I.J.

I keep my moneyz in my kimono closet like everyone else.

Where do you keep your dead granny?

she is propped up at the kotatsu in front of the TV. All it takes is a bit of shochu and some umeboshi to them looking alive.

[matsuki]

T.I.J.

I keep my moneyz in my kimono closet like everyone else.

I thought it was futon insulation?