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| I just called the embassy in Paris, which has IRS staff there. They were very helpful. This is what I've found out...If any balance goes above $10,000 US for even one day, you must include that account on the FBAR form | |
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For (a minor) clarification: You must report all accounts (as you wrote),
if the
aggregate value of all accounts is over $10k etc etc. (The $10k threshold is not per account...see the
instructions here.)
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| No comment on how all of this makes me feel.... | |
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Well, the reporting requirements (form TD-90) have existed for at least 15 years, so...how
do you feel?
Presumably you'll agree it is less intrusive than a country (FR or CH) that can demand a list of
all your worldwide assets (not merely financial accounts), in order to impose a wealth tax ?