Hello, this is Rob Lambert with asset protection training com. Today, I'm going to talk about reporting your offshore bank account to the IRS and keeping Uncle Sam happy. I believe that offshore accounts are the safest place to put your money if you are under creditor attack. There are many reasons why I believe this, and I have made videos explaining them. To have an offshore bank account, you need to understand that it is different from a regular bank account at Wells Fargo, Chase, or Bank of America. Offshore banks take better care of your needs, provide more confidentiality, and allow you to trade securities. In fact, around 15 of these offshore banks are stronger than any bank in the United States. If you want to choose an offshore bank account, make sure to stick with Fortune 500 level banks like Bank of America, Wells Fargo, or Chase. Avoid dealing with boutique banks because they are not as strong. However, in today's video, my focus is on showing you how to stay out of trouble with Uncle Sam. It's actually quite simple. First, you need to take the issues of doing business internationally very seriously. The US government loses over a hundred billion dollars each year because people fail to disclose or fraudulently report offshore bank account income. This is a serious matter and the IRS is actively pursuing those who are not reporting their offshore accounts. You may think you have slipped through the cracks, but you haven't. The IRS is aware of every bank account abroad that has any relationship with a US bank due to the Patriot Act. They also have access to all offshore bank accounts and are putting in a lot of effort and resources to catch tax evaders. The penalties for not reporting offshore...
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Td F 90-22.1 Form: What You Should Know
This form requires the signature of either a non-U.S. citizen or resident alien (for those persons on the nonimmigrant visa program) who is liable for U.S. federal income taxes with the entity (for those persons on the nonimmigrant visa program) in which the entity is located. (For more information on the nonimmigrant visa program, consult the Department of Homeland Security's “Understanding the Nonimmigrant Visa Program” from the link at the above link.) Report of Foreign Bank and Financial Accounts, 2024 Return for Noncitizens Who Are Taxpayers (Forms TD 91-22(a)--(d), FA 91-22(a)--(d), etc.), and Form TD F 90-22.1, Foreign Bank and Financial Accounts, Tax Return, Tax Form TD 8944 (Form TD 91-22(b)(2) and Form TD F 91-22(b)(3). The Form FAR instructions and information are also available at the IRS website for the new FAR process. The Foreign Bank and Financial Accounts (FAR) Information and Instructions (IRS), Part 4 -- Financial Statement Obligations (FD-209--Form TD F 90-22.1). Note: You do not need the information from the forms below when you are completing your FAR. You need to complete forms TD F 9022.18 (Report of Unlisted Accounts), TD F 9022.21 (Foreign Bank and Other Accounts), TD F 91-22.1(a) (Report of Foreign Bank and Certain Other Foreign Financial Accounts), and TD F 91-22.1(e)(3)(A) (Report of Other Foreign Financial Accounts). Filing the FAR does not exempt non-U.S. citizens or residents from filing a Form 1040. If you are one of the U.S. taxpayer reporting foreign bank and accounts, you may be exempt from the requirements imposed by the FAR requirement if you are not a U.S. person but are a person in the possession of U.S. property, and you do not hold yourself out as holding U.S. government securities in connection with the sale of U.S. government securities, if you are not a U.S. person who operates a business that requires a license as a financial institution (as defined in section 5330 of title 31, United States Code), or you provide substantial services in connection with an entity controlled by a U.S. person.
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