FATCA UK – Foreign Asset & Investment Reporting | IRS FATCA UK

FATCA U.K. – Foreign Asset & Investment Reporting | IRS FATCA UK Each year, Golding & Golding, A PLC represents numerous clients before the IRS who are either based in the UK, originally from the UK, and/or have assets, accounts, investments or income from the UK. FATCA UK (IRS) Like many other superpower nations such…


FATCA 2018 & Beyond – Key Tips to IRS Offshore Reporting & Filing

FATCA 2018 & Beyond – Key Tips to IRS Offshore Reporting & Filing Despite what many people who were hoping for, the new Tax Reform bills do not include any repeal of FATCA — not even for Accidental Americans or other expats who truly deserve it. FATCA 2018 & Beyond  The following summary is a…


The Timing of a FATCA Notice – Willful or Non-Willful

For many individuals, they literally had no idea they were ever supposed to report or disclose foreign accounts or foreign income in the United States, until they received a FATCA Letter from their foreign financial institution/bank instructing them that they needed to certify their U.S. status. Typical Example Michelle is a U.S. Green Card Holder and…


Do I File FBAR & 8938 if I Live Outside of the U.S.?

Yes, When a person is considered to be a U.S. person (such as a U.S. Citizen, Legal Permanent Resident/Green-Card Holder, or Foreign National who meets the Substantial Presence Test) they are required to file a U.S. tax return — no matter where they live (presuming they meet the threshold requirement). And, since Form 8938 is…


Do I Include Closed Foreign Accounts on FATCA Form 8938?

With the FATCA Form 8938 (Report of Foreign Bank and Financial Accounts) due date rapidly approaching (April 18, 2017 — unless you applied for an extension), we often receive the question of whether closed accounts need to be reported on a FATCA Form 8938? The answer is — yes: If the account was opened at all during 2016,…