Expat banking has become much more complicated for US citizens living abroad as a result of the governments enactment of FATCA and FBAR reporting requirements. Below are some articles to help you better understand the situation.
With the FBAR (Foreign Bank Account Report) deadline approaching and many expats unaware of whether or not they need to file, take a closer look at the filing requirements and how exactly it is done.
Form 8938 and the FBAR are two different forms that many expats need to file to report foreign accounts. So, how do you know which one to file? This outline, prepared by Greenback Expat Tax Services, outlines the differences between the two.
The history of the FBAR goes back to the Bank Secrecy Act of 1970 and Title 31 of the US Tax Code. However, only recently the IRS has started to enforce the rules and even prosecute individuals.
The real result of Obama's 2009 HIRE Act has been the establishment of new tax reporting requirements that can leave those holding unreported foreign assets or bank accounts in big trouble with the IRS.
Expats have a second amnesty period for 2011 during which they can report foreign bank accounts to the IRS. David McKeegan explains this initiative.
Manuel Perez covers more issues in his "My Money" series. This article covers identification needed to open bank accounts abroad, issue to avoid when selling a car, home or business and other topics.
How does the expat community spend Christmas away from home? What’s the best present to send if you’re living abroad and how can you keep in touch during the busy holiday season?
Opening a bank account in Germany is not difficult as long as you have your passport and Andmeldedestätigung.
Crown discusses the benefits of banking offshore in a tax haven such as Luxembourg, Switzerland and the Channel Islands.
UK housing market rises steeply, but expected to level off as utility and council tax bills hit, says Bank of Scotland International.
When opening a bank account in France there are numerous variables to consider, and often the language barrier only serves to complicate matters.
If possible, setup your financial services before you move overseas. Most international banks has a specialized expat banking service designed to meet the unique needs of expats. Mitchell's article includes answers to key questions about foreign exchange rates, ATM usage, opening an expat bank account and obtaining credit abroad.