Hello
Guest

Sponsored Links


« previous next »
Pages: [1]   

Topic: ISA savings accounts  (Read 1012 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 183

  • Liked: 4
  • Joined: Feb 2016
  • Location: London
ISA savings accounts
« on: February 25, 2018, 04:54:37 PM »
I was thinking of opening a savings account at my bank. I assume it is no problem as an American to own one of these if it's just a regular savings account and not invested in mutual funds?
Logged

  • *
  • Posts: 4206

  • Liked: 777
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: ISA savings accounts
« Reply #1 on: February 25, 2018, 05:25:17 PM »
Quote from: stargazer on February 25, 2018, 04:54:37 PM
I was thinking of opening a savings account at my bank. I assume it is no problem as an American to own one of these if it's just a regular savings account and not invested in mutual funds?

No problem. My wife and I both have cash ISA’s and the interest they produce is reported on our US return as regular bank interest. (It is not tax free like it is for HMRC)

The ISAs also need to be reported on an FBAR if you meet the threshold for FBAR reporting.
Logged
Dual USC/UKC living in the UK since May 2016

  • *
  • Posts: 183

  • Liked: 4
  • Joined: Feb 2016
  • Location: London
Re: ISA savings accounts
« Reply #2 on: February 26, 2018, 03:55:22 PM »
Ok thanks!
Logged

Pages: [1]   
« previous next »

Sponsored Links





 

coloured_drab