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    Offshore Banking & Foreign Bank Account Reporting (FBAR) Guide
    Offshore Banking & Foreign Bank Account Reporting (FBAR) Guide
    Offshore Banking & Foreign Bank Account Reporting (FBAR) Guide
    Ebook70 pages49 minutes

    Offshore Banking & Foreign Bank Account Reporting (FBAR) Guide

    By Curt Matsen

    ()

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    About this ebook

    There are several benefits of offshore online banking. Learn the pros and cons of offshore internet banking from first-hand experience, as well as critical mistakes to avoid. This book discusses what offshore banking is, why consider it in the first place, who it is for, its advantages and disadvantages as well as some important things to know and keep in mind before getting involved with offshore banking, as well as the legal and regulatory implications attached to it. This book also discusses the legal and regulatory compliance implications tied to offshore banking and thus provides a comprehensive guide to help you file the (Foreign Bank Account Reporting) FBAR Form to stay compliant and avoid FBAR penalties and fines. You will also learn about FBAR Amnesty programs, the requirements and time lines.

    LanguageEnglish
    PublisherGreen Initiatives
    Release dateAug 12, 2012
    ISBN9781476215570
    Offshore Banking & Foreign Bank Account Reporting (FBAR) Guide

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      Book preview

      Offshore Banking & Foreign Bank Account Reporting (FBAR) Guide - Curt Matsen

      OFFSHORE BANKING & FOREIGN BANK ACCOUNT REPORTING (FBAR) GUIDE

      By Green Initiative – Curt Matsen, CPA

      Smashwords Edition

      Copyright © Curt Matsen, CPA - Green Initiative

      All Rights Reserved

      Smashwords Edition, License Notes

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of the authors.

      Disclaimer

      This book report is meant to be a basic introduction to the topic of Offshore Banking and FBAR, and therefore DOES NOT construe tax and/or legal advice. Please consult your professional CPA, Lawyer, Attorney prior to interpreting, analyzing and/or implementing any and all information contained in this book report.

      This book report may not be resold or redistributed without explicit permission from Curt Matsen, CPA curt@file-fbar.com Offshore Online Banking and File Bar © Protected – All Rights Reserved.

      TABLE OF CONTENTS

      INTRODUCTION

      PART I: Offshore Banking Guide – Critical Information You Must Know

      CHAPTER I: What Is An Offshore Bank?

      A. List of Common Offshore Online Banking Services

      B. List of Common Offshore Bank Jurisdictions

      C. Regulating Offshore Banking

      D. Connotations and Implications of Offshore Banking

      E. Dollar Concentration in Offshore Banking

      F. Illegal Monies in Offshore Bank Accounts

      G. Offshore Banking for Corporations of All Sizes

      H. Preliminary Thoughts on Offshore Banking

      CHAPTER II: Opening an Offshore Bank Account, Internet Banking, Advantages, and Disadvantages

      A. Strategic Reasons for Opening an Offshore Internet Banking Account

      B. Pursuit of International Banking Diversity

      C. Opening an Offshore Bank Account

      D. The Cost of Opening a Foreign Bank Account

      E. The Advantages of Offshore Internet Banking

      F. The Disadvantages of Offshore Internet Banking

      G. Selecting the Best Offshore Bank for You

      H. Other Things to Look for in Foreign Internet Banks

      I. Account Set Up Time & Ongoing Foreign Bank Account Maintenance

      J. Compliance Requirements

      K. Concluding Thoughts on Offshore Internet Banking

      PART 2: Foreign Bank Account Report (FBAR)

      CHAPTER I: FBAR Form Filing Requirements & Guidelines

      A. What is FBAR?

      B. The Bank Secrecy Act

      C. Why is an FBAR Form Required?

      CHAPTER II: Who Must File an FBAR Form, When and Exceptions to the Rules

      A. So Who Should File the FBAR Form?

      B. Exceptions to Filing FBAR Form

      C. Filing the FBAR Form Online

      D. Government Authority Over FBAR Reporting

      E. Is FBAR an Income Tax Returns?

      CHAPTER III: Importance Of Timely FBAR Reporting – Avoid FBAR Penalties

      A. FBAR Reporting Tips

      B. Enforcement of FBAR Reporting – Civil and Criminal Cases

      C. How FBAR Reporting Penalties are Communicated

      D. Concluding Thoughts on FBAR Reporting

      CHAPTER IV: Avoiding Hefty FBAR Penalties and Fines – 4 Levels of FBAR Fines

      A. Consulting Professionals to Avoid FBAR Penalties

      B. Severity of FBAR Penalties

      C. FBAR Non-Compliance Conviction Procedures and Guidelines

      D. Calculation of FBAR Penalties

      CHAPTER V: How to Qualify for FBAR Amnesty and Handle FBAR Penalties

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