Foreign Bank Accounts - when must they be reported

[Usui Takumi 1,562]

So the IRS guidelines say that if a US "persons" (how vague) has an oversea account with 10,000 or more must report it. So I assume for a spouse coming in to that they do NOT need to report this until their green card is in hand?

[Carlawarla 1]

So the IRS guidelines say that if a US "persons" (how vague) has an oversea account with 10,000 or more must report it. So I assume for a spouse coming in to that they do NOT need to report this until their green card is in hand?

I'm just guessing here, but I'd say this would apply for a U.S. Citizen, and no one else. As a GC holder, I have to include my income now, even if made outside of the country to the IRS, but what's in my bank account outside the country? I don't think so.

[Maad 0]

So the IRS guidelines say that if a US "persons" (how vague) has an oversea account with 10,000 or more must report it. So I assume for a spouse coming in to that they do NOT need to report this until their green card is in hand?

I'm just guessing here, but I'd say this would apply for a U.S. Citizen, and no one else. As a GC holder, I have to include my income now, even if made outside of the country to the IRS, but what's in my bank account outside the country? I don't think so.

Sorry, but....

for tax purposes GC holder is treated exactly the same like USC...

but since some money were made (saved) before becoming LR one doesn't need to report them (only interest)..

that's what I understand from doing my taxes for several years myself..

however I might be totally wrong..

IRS infoline may help.. ?

Edited September 18, 2008 by Maad