Reporting Overseas Accounts to George W. and His Cronies

[Dragonbones]

One time I wrote a number in the wrong column, which changed my taxes by something like one US dollar, and they tried to fine me $100. I mailed them a dollar and told them they were nuts, and I never heard from them again.

[CraigTPE]

The filing requirement applies to you if you:

a) are a U.S. person (citizen or US resident at any time during the year) AND
b) during the calendar year, had a financial interest in (or signature or other authority over) a bank, securities or other financial account (including a trust) located in a foreign country AND
c) on any day during the calendar year, the aggregate value of all accounts exceeded $10,000.

Because of part "c", I won't have to worry for a while......

[Dragonbones]

That's only what, $320,000 NT? Even an English teacher saving half of his or her monthly salary can accumulate that before too long.

[CraigTPE]

That's only what, $320,000 NT? Even an English teacher saving half of his or her monthly salary can accumulate that before too long.

Yeah, even a lowly English teacher in the tertiary sector with an appallingly low salary, huh...

Thing is, I don't keep much savings here at the moment, other than a small monthly investment into a mutual fund. I have a savings account and a mutual fund account back in the US I save some money in.

Nor do I save half my salary. I'm not a good saver. I use it to fly home twice a year (usually business class), fix up my '86 Benz or some such other fun stuff.

So in my case, I won't have to worry about the tax issue just yet. I declare my income here, but since the first US$80K is exempt, it's just paperwork.

[Dr. McCoy]

I'm reporting mine to Barak Obama and the Muslim Gansta Cronies.