In general, federal law requires U.S. citizens and resident aliens to report any worldwide income, including income from foreign trusts and foreign bank and securities accounts. Informational reporting may also be required if you are a specified person or a specified domestic entity and you have an interest in foreign financial assets required to be reported above a certain threshold. We can help in the following areas:
- FBAR - Fincen Form 114 - Report of foreign bank and financial accounts
- FATCA - Form 8938 - Statement of Specified Foreign Financial Assets
- Foreign Trusts - Reporting income and distributions from foreign trusts
- Foreign investments in Passive Foreign Investment Companies (PFIC ), Mutual funds, ETF etc
- Foreign Pension/SSA (GC holders or permanent residents who still draw pension or social security from home country)
