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penalties for fbar non compliance
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James *********
ORIGINAL POSTERLearned this from a CPA friend of mine...
If you are American and have a foreign bank account - you need to fill out "FBAR, *Form* 114" with your taxes yearly, or ELSE! There is a $100,000 fine that may be leveled against you, if you don't. Look it up - don't find out the hard way!
If you are American and have a foreign bank account - you need to fill out "FBAR, *Form* 114" with your taxes yearly, or ELSE! There is a $100,000 fine that may be leveled against you, if you don't. Look it up - don't find out the hard way!
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