Incblog for Entrepreneurs

Covering entrepreneurship and business start up questions for non-residents and US citizens.

 

May 21 2010

It’s FBAR time again for all US resident persons

by John Gordon | 17:05 GMT

Every US person, including corporation, LLC, trust, partnership or anything or anyone that calls the US home under tax law has an obligation to report bank or financial accounts if the total of these accounts exceeds USD 10,000. The actual terminology used by the IRS is rather convoluted, but if you or your company is […]

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Sep 17 2009

A new age of “transparency” for non-residents: doing business in the US requires disclosing your foreign bank accounts

by John Gordon | 14:09 GMT

This is from the IRS website: Q. A non resident alien who doesn’t meet the 183 day test is a partner in a US partnership where the US partnership deals with rentals; must he file an FBAR? A. With the October 2008 revision to the FBAR form and instructions, FBARs are now required by nonresidents […]

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