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Topic: Tax implications of Junior ISA for US/UK minor  (Read 1004 times)

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Tax implications of Junior ISA for US/UK minor
« on: May 08, 2012, 05:58:46 PM »
We've been thinking about opening a Junior ISA for our son but are wondering what will happen when it gets over the $10k tax limit. This will undoubtedly be before he comes anywhere near needing to submit taxes for other reasons.


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Re: Tax implications of Junior ISA for US/UK minor
« Reply #1 on: May 08, 2012, 07:17:08 PM »
I assume this is a cash ISA.

The ISA will be reportable on your own FBAR while the child is a minor because the parent has signature authority.


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