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Old 05-05-2008, 06:21 PM
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IRS requires taxpayers report whether or not they have a Foreign Bank account!

Foreign Financial Accounts
Taxpayers must also report on your U.S. tax return whether or not they have any foreign bank or investment accounts. The Bank Secrecy Act requires a taxpayer to file a Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts if:

1. the taxpayer or their spouse has a financial interest in, signature authority, or other authority over one or more accounts in a foreign country, and

2.the aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year.

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