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Offshore Financial Assets & Related Services

With the IRS cracking down on foreign bank accounts and increased regulations in a constant flux, we can help you determine if the FATCA rules apply to you and assist you to stay in compliance if they do. 

 

Foreign Account Tax Compliance Act (FATCA)

The provisions commonly known as the Foreign Account Tax Compliance Act (FATCA) became law in March 2010.

  • FATCA targets tax non-compliance by U.S. taxpayers with foreign accounts.

  • FATCA focuses on reporting:

         1. By U.S. taxpayers about certain foreign financial accounts and offshore assets

         2. By foreign financial institutions about financial accounts held by U.S. taxpayers                or foreign entities in which U.S. taxpayers hold a substantial ownership interest
         3. The objective of FATCA is the reporting of foreign financial assets; withholding is              the cost of not reporting.

If you have undeclared Foreign Bank Accounts, we can work on the most effective way to come into compliance via the OVDP or the Streamlined Procedures for US Citizens living in the US or abroad whichever solution would best apply to you. 

 

Let us help you keep all your FATCA ducks in a row.