Depending on whether you are a U.S. Citizen or Resident, you have various reporting and disclosure requirements to the IRS on your U.S. source and worldwide income. In this article we will take a look at a few of the most common and most important international tax reporting requirements.

Disclosure of Foreign Bank Accounts

If you have a financial interest or signatory power over a foreign financial account, then you are required to file a Report of Foreign Bank Account and Financial Accounts (FBAR), also known as FinCEN Form 114. This reporting obligation applies to bank accounts, brokerage accounts, mutual funds, trusts, or other financial accounts. American Citizens Abroad, What is FBAR?. Read More