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GTN: Tax Reimbursement Policy Initiative

In this month’s Global Tax Network newsletter, Shawn Siwek, Senior Manager in the GTN West Central region, highlights important information regarding the foreign bank account reporting requirements for US persons.

27 May 2016

Briefly, US persons with financial accounts maintained outside the US must report these accounts to the US Department of the Treasury annually (on or before June 30) if the balance exceeds a certain level during the year. Due to continuing media attention of efforts to improve compliance in this area, individuals are becoming more aware of the filing requirements.

See the complete newsletter here: http://www.gtn.com/newsletter_2016_05.php

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