COMPANY BLOG

Navigating the uncertainties of the global economy and financial markets is our profession and passion, what we do, day in day out.

September 3, 2018

While an offshore bank account offers many different advantages (investment diversification, asset protection), there are also some reporting requirements that need to be taken into consideration. The most relevant being  the annual filing of an FBAR Form (FinCen Form 114) and of the Form 8938. The link below provides details on each of the forms, including thresholds, filing dates, etc.

https://www.irs.gov/businesses/compariso...

July 5, 2018

The Offshore Voluntary Disclosure Program (OVDP) launched in 2009 is officially ending on September 28, 2018. The program has enabled U.S. tax payers to voluntarily resolve past non-compliance related to unreported foreign financial assets. A separate program, the Streamlined Filing Compliance Procedures for tax payers will remain in place and is available for eligible taxpayers. Please see the following links to the IRS websi...

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