Q: Is an FBAR required for custodial IRA/simplified employee pension (SEP) accounts when the custodian is in the U.S., but the self-directed funds are invested in an offshore bank
? If so, who should file it--the custodian or the IRA/SEP owner?
Lucy Komisar is a New York journalist who has spent several years investigating the phenomenon of offshore bank
and corporate secrecy havens.
There is of course nothing wrong in having an offshore bank
According to the report, the officials used offshore bank
accounts to smuggle the funds.
The Thorn Law Group is an international tax boutique law firm that specializes in undisclosed offshore bank
The plea, signed by Davis, the former chief financial officer of Stanford Financial Group and its offshore bank
in Antigua, alleges wrongdoing as early as 1988 when Stanford had an offshore bank
It has also just written to a further 5,000 others who have offshore bank
accounts but who did not come forward first time round.
MIDLAND taxpayers have been warned of a tough HM Revenue & Customs crackdown on offshore bank
Jane Jackson, PKF's Liverpool office tax partner, said: "We have already seen HMRC use its powers to require banks to provide information regarding specific or unnamed/unknown taxpayers holding offshore bank
228.) The IRS is currently issuing notices to taxpayers identified as holders of offshore credit cards, owners of offshore bank
accounts and participants in offshore financial arrangements.
The DeltaQuest Group consultants have expert knowledge in the procedures of country specific banking licenses and provide specialist expertise and guidance with respect to the regulatory framework of obtaining a banking license and forming an offshore bank
An offshore bank
account is managed just like any local or domestic account, says Steve Gregory, director or technical services of Holborn Assets.