Reporting FBAR -- need account #. Where can I find it?

ExponentExponent Posts: 13 Tin ✭
Title pretty much says it all. Thanks!

Comments

  • GMONEY1GMONEY1 Posts: 245 Bronze ✭✭✭
    edited June 19
    If it is a wealth account and the balance exceeded $10,000 during your reporting tax year, then use your wealth account number. Goldmoney Personal in US is actually run by Goldmoney USA Ltd out of Delaware ---a Fincen compliant subsidiary.

    Consult your tax advisor to confirm.

    http://community.goldmoney.com/discussion/3204/goldmoney-usa-limited-us-residents-only
  • SpontaneousOrderSpontaneousOrder Posts: 225 Bronze ✭✭✭
    Agree with @GMONEY1 , but there's two wrinkles:
    1. You have to file the fbar if the sum of all your foreign accounts is over $10,000, even if the high point for your wealth account was less than $10K last year.
    2. The government has helpfully changed the fbar filing deadline from June 30th to April 15th, to coincide with your regular 1040 tax return, apparently without telling anyone (in spite of the fact that they had our email and street addresses and phone number from last year's filing). So you're already late. Fortunately, they are also providing an automatic late filing extension with no penalty. We checked the "filing late" box, and for a reason put in that we were not notified of the change.
  • ExponentExponent Posts: 13 Tin ✭
    Thanks guys. My balance (at it's highest) was around 15K, but it is/was a Personal account. So no need to file the FBAR then? If I want to file it to be safe anyway, what the heck do I use for an account number?!

    And yea I saw that the IRS never notified anyone that the deadline was pushed back to the same date as regular tax reporting (April 15th), but they did grant an auto extension to sometime in October.
  • SpontaneousOrderSpontaneousOrder Posts: 225 Bronze ✭✭✭
    @Exponent when I filed FBAR for my Personal Goldmoney account (in 2016 for tax year 2015, prior to the U.S. subsidiary being created) I used my email address as the account number and it seemed to work OK.
  • ExponentExponent Posts: 13 Tin ✭

    @Exponent when I filed FBAR for my Personal Goldmoney account (in 2016 for tax year 2015, prior to the U.S. subsidiary being created) I used my email address as the account number and it seemed to work OK.

    Cool I'll go with that then :)
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