This blog provides guidance to U.S. taxpayers who store gold and currency cash notes abroad in private vaults – a popular investment these days considering
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According to Treasury Regulation 31 C.F.R. § 1010.350, a “financial account” includes securities, brokerage, savings, demand, checking, deposit, time-deposit or other accounts maintained with a
The maximum account value is defined as “a reasonable approximation of the greatest value of currency or nonmonetary assets in the account during the calendar
A person has a “financial interest” in a foreign account not only if he is the owner of record or holder of legal title, but
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