U.S. Citizens With Financial Interests Abroad MUST Remember The 30th June 2013 FBAR Deadline Or… You could be facing a $10,000 fine for each unreported foreign financial account!
U.S. Citizens With Financial Interests Abroad MUST Remember The 30th June 2013 FBAR Deadline
According to the U.S. Department of Treasury:
The deadline is less than two weeks away. If you had US$10,000 or more in any non-U.S. bank account(s) at any point during 2012, you are required to complete the Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). That applies even if you transferred money to your a foreign bank account to buy a car, say, and the account broke the threshold for but a single day.
You can “enjoy” a truly depressing and of course bloody confusing FBAR video from KPMG:
Filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (the FBAR)
And your fine for failure to report?
A $10,000 fine for each unreported foreign financial account!
FBAR News Update June 2013 Part 1 of 2
FBAR News Update June 2013 Part 2 of 2
Good luck!
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Andrew Makarik
to@welovecostarica.comAndrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.
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