What is the U.S. definition of “ Resident” for FBAR purposes?
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Dan Gordon
very simply where you reside, live have your abode. Now sometimes one may have a "registered residence" but be traveling or moving around often. But residence is where you return to, and can mean receive you mail etc.
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194 weeks ago
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John Richardson
I have not written a post about Mr. FBAR for quite some time. But, a post about the recent Boyd Case at Tax Connections, by Darlene Hart got me thinking about FBAR again. For those interested – where the IRS successfully argued that it was appropriate to impose penalties on each individual account – here is the case:
Those who know little about Mr. FBAR might find this introduction to FBAR – although written in 2012 – helpful. Incidentally, it’s pretty obvious that Russia’s Foreign Bank account reporting laws were based on an admiration of Treasury’s success with the FBAR rules.
Read the post: www.taxconnections.com/taxblog/exercising-broad-regulatory-authority-us-treasury-has-clarified-the-meaning-of-resident-for-fbar-purposes/
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193 weeks ago
Those who know little about Mr. FBAR might find this introduction to FBAR – although written in 2012 – helpful. Incidentally, it’s pretty obvious that Russia’s Foreign Bank account reporting laws were based on an admiration of Treasury’s success with the FBAR rules.
Read the post: www.taxconnections.com/taxblog/exercising-broad-regulatory-authority-us-treasury-has-clarified-the-meaning-of-resident-for-fbar-purposes/