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Topic: Report of foreign bank accounts - form TDF 90-22.1 - URGENT!  (Read 1438 times)

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Report of foreign bank accounts - form TDF 90-22.1 - URGENT!
« on: May 24, 2006, 09:29:20 PM »
Just a reminder that these MUST be filed with the US Treasury by June 30th 2006.  No extensions are permitted.

Penalties for late filing are potentially an automatic $10,000 so there is no point in delaying!

Don't forget to list every account, joint or your own that you have had signature over during 2005 plus any foreign (eg UK) brokerage accounts or other "wrap" accounts...
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Re: Report of foreign bank accounts - form TDF 90-22.1 - URGENT!
« Reply #1 on: May 25, 2006, 07:55:51 AM »
Joint or signatory accounts only, correct?  Not ones only in the name of the UK spouse?
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Re: Report of foreign bank accounts - form TDF 90-22.1 - URGENT!
« Reply #2 on: May 25, 2006, 09:14:31 AM »
Yes.

Some people forget about the signature authority accounts.  These can include a spouse's account, a minor's account, an elderly relative's account, a charity you do work for, or your employer's accounts.

Some people forget about joint accounts that they don't think of as "theirs".  They are. 
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Liz Z i t z o w, EA
British American Tax

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