US Citizens with foreign bank accts: Filing date is Monday

[SBR_John]

If the balance in your foreign bank account reached $10,000 at any time during 2006 you are required to file TDF 90-22.1

http://www.irs.gov/pub/irs-access/f90221_accessible.pdf

[jjgold]

why is this here?

[ShamsWoof10]

I wonder how many people will actually do this..

[rolemand]

I wonder how many people will actually do this..

I did last year and will again.

[NeedProtection]

John,

Thanks for the info. Have you ever filed this form in the past for Neteller or other accounts? I have heard it triggers an audit.

Thanks!

[SBR_John]

Yes. Ive filed this every year since 02. I went back and amended past years to include Neteller info.

Im more worried of being audited for not filing it with Neteller data than the reverese. The US DoJ now has the NT info and it wont take them long to find out who hasnt filed this.

[pico]

john,

i think you're only referring to neteller, right? because for a US citizen to open a foreign bank account, the foriegn bank makes him/her to fill out a w-8 form, so there is really no need to fill this thing out.

[SBR_John]

I have many foreign accounts because our business is located in other countries. I've never heard of a w-8. You can click on the link to the TDF 90-22 and read who needs to file it.

[ShamsWoof10]

W-8..? Sh*t I don't recall filling anythng like that out.... hmmmm

[GPC]

W-8 is the other way around - foreigners opening an account in the U.S.