FATCA/FBAR non-compliance by US Citizens & Green Card Holders are subject to $10,000 or more fine!!!

Visit my Channel URL for more related videos. Here’s the link: https://www.youtube.com/channel/UCYU70S4jYvhw0BOetMFdD6A/videos
Many citizens, green card holders, dual citizens, and expats may not be aware of the filing requirement mandated by FATCA and/or FBAR. Many may be unknowingly sending money to their Philippine bank account in preparation for retirement, to buy a car, to buy a residential property, etc. not realizing that they may be required to file a report regarding these cash deposits. Although its filing does not result in any additional tax, failure to report has penalty which could start at $10,000 and could also include criminal indictment. Watch this video to see if you are required or not. If you are required, I will recommend that you consult an accountant or lawyer specializing in FATCA/FBAR reporting to make sure you are protected.

Видео FATCA/FBAR non-compliance by US Citizens & Green Card Holders are subject to $10,000 or more fine!!! канала Vlogger Grandpa