Foreign Financial Accounts

FBAR Filing Due for Foreign Financial Account Holders

by Michael Cho | Berkeley Research Group, LLC on 5/18/2013

The 2012 Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), is due June 30, 2013. An employee or officer who has signature or other authority over, or financial interest in, foreign financial accounts is...more

Eleventh Circuit Holds that Production of Foreign Bank Account Records May be Compelled in Criminal Investigation Under Required...

by Nicholas J. Nastasi, Matthew Smith | Saul Ewing LLP on 3/25/2013

The Eleventh Circuit recently joined the Fifth, Seventh, and Ninth Circuits in holding that subpoenaed foreign financial records properly fall within the Required Records Exception to the Fifth Amendment privilege against...more

White Collar Watch - March 2013

by Andrea P. Brockway, Brett S. Covington, Christopher R. Hall, Nicholas J. Nastasi, Gregory G. Schwab, Brian Simons, Matthew Smith | Saul Ewing LLP on 3/22/2013

In This Issue: - Eleventh Circuit Holds that Production of Foreign Bank Account Records May be Compelled in Criminal Investigation Under Required Records Exception to Fifth Amendment Privilege - Supreme Court...more

Highlights of Recently Released FATCA Regulations

by Allen Littman, Michael Nydegger, Paul Schmidt | BakerHostetler on 2/13/2013

On January 17, the Internal Revenue Service issued long-awaited final regulations (the Final Regulations) for implementing the Foreign Account Tax Compliance Act (FATCA) (the Final Regulations are contained in T.D. 9610). For...more

Significant Changes Made in Final FATCA Regulations

by Adrienne Baker, Andrew Bloom, Michael Hirschfeld | Dechert LLP on 2/11/2013

On January 17, 2013, the U.S. Department of the Treasury (“Treasury”) and the U.S. Internal Revenue Service (the “IRS”) released final regulations (the “Regulations”) implementing foreign account reporting provisions of the...more

I.R.S. Issues FATCA Final Regulations

by Jonathan E. Gopman, Elysa R. Merlin, Barbara E. Ruiz-Gonzalez, Sherwin P. Simmons, II | Akerman Senterfitt on 1/31/2013

On January 17, 2013, the IRS released final regulations for the Foreign Account Tax Compliance Act ("FATCA") to be effective on January 28, 2013. Enacted by Congress in 2010, FATCA targets non-compliant U.S. taxpayers using...more

FATCA Regulations Finally Arrive: A First Look

by Mary Burke Baker, Andrés Gil, Adam Tejeda, Roger Wise | K&L Gates LLP on 1/23/2013

On January 17, 2013, the U.S. Treasury Department (“U.S. Treasury”) and the Internal Revenue Service (“IRS”) released long-awaited final regulations on the Foreign Account Tax Compliance Act (“FATCA”). The final regulations...more

IRS Issues Final FATCA Regulations

by Pepper Hamilton LLP on 1/21/2013

On January 17, 2013 the Internal Revenue Service issued long-awaited final regulations that implement the Foreign Account Tax Compliance Act (FATCA), the new reporting and withholding tax regime that applies to foreign...more

Must You Produce Records of Offshore Accounts?

by Sanford Millar on 1/21/2013

A Petition to the U.S.Supreme Court may result in the Court deciding whether a taxpayer who has a previously unreported foreign financial account must produce records of the account in a criminal proceeding in spite of the...more

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