Cool! Thank you!!rhcohen2014 said:nope, for us citizens, it's not necessary to sign or write anything on the back of the photos. i sent mine in blank, and had no requests for new ones.
Cool! Thank you!!rhcohen2014 said:nope, for us citizens, it's not necessary to sign or write anything on the back of the photos. i sent mine in blank, and had no requests for new ones.
You provide the bank names, addresses, account numbers and amounts. Canada and the US have standing agreements that make it easy for them to exchange information, so they'll verify the information you provide if they want to (just like they audit your tax returns if they want to).MizAngel said:Ivan do you know what kind of proof you might need to file the FBAR? Hubby is making a decent amount of money and while I don't think we'll hit the $10K this year, we might next year based on your example above. How do we prove that on X day of X month he had a total of over $10K in the accounts? Or do they just take your word for it?
FATCA form 8938 requires you to report all accounts not held in the US (if you exceed the threshold), regardless of if it earns interest. It is basically a duplicate of the FBAR except form 8938 goes to the IRS while FBAR goes to the US Treasury Dept. 8938 does have a much higher threshold in regards to requirement to file than the FBAR however. But why you have to file nearly the same information twice instead of just to one department and have the the other share the information is another example of why the whole overseas tax filing for Americans is so maddening.saria1 said:I think what your referring to is FATCA that came into play this summer. From what I understand, it only applies to money earned on interest or investments overseas. If the money isn't producing anything, then it doesn't need to be reported.
WIth the new electronic filing, it is pretty easy. The hardest part is just keeping track of your account balance and finding out the max value in each account for the yearIvanP said:The FBAR really isn't the hardest thing in the world to file (until you have lots of accounts, or signing authority on business accounts), so it's not even close to the end of the world if you have to file it.
Note that the FBAR threshold is 10K. The FATCA Form 8938 threshold is much higher... especially if you live abroad (starting at like 200K and increases if filing joint with a US spouse)rhcohen2014 said:as mentioned by Ivan in numerous recent posts, FATCA and FBAR come into play anytime a US citizen accumulates assets or is a signing authority on any accounts that equal $10,000.
I received a request from LA VO for updated photos because, they said, my original ones had expired. And they would not release COPR without the updates. So maybe they date your photos when they receive your application.rhcohen2014 said:nope, for us citizens, it's not necessary to sign or write anything on the back of the photos. i sent mine in blank, and had no requests for new ones.
I think they have a dart board that lists all of discretionary things they could theoretically request. Issue COPR is the bullseye.chala said:I received a request from LA VO for updated photos because, they said, my original ones had expired. And they would not release COPR without the updates. So maybe they date your photos when they receive your application.
Awesome. It's been a year almost for my outland application (my medicals expire tomorrow ) so I hope I get mine soon.chala said:Ecas changed to "decision made " when I checked Saturday
They will likely just extend them. Ours were a year old in May of 2014 and they just extended them for another year to May 2015. Although the way things seem to be going that might not be long enough!blueangel371115 said:Awesome. It's been a year almost for my outland application (my medicals expire tomorrow ) so I hope I get mine soon.
That seems to be the norm for US applicants, if so required, as they extended mine for a year last January as well.notsopatient said:They will likely just extend them. Ours were a year old in May of 2014 and they just extended them for another year to May 2015. Although the way things seem to be going that might not be long enough!