| Author | Message | ||
     Prince_786 Junior Artist Username: Prince_786 Post Number: 812 Registered: 02-2008 Posted From: 202.133.55.153 Rating: N/A |
Wellsfargo, Nenu kuda mee laage R2I, and need some advise. Can you email your contact number to rpuliche@yahoo ? thanks | ||
| Scrabble Junior Artist Username: Scrabble Post Number: 191 Registered: 11-2010 Posted From: 24.197.213.180 Rating: N/A |
Found an article in CNN - Money today on importance of FBAR. It is better to report about foreign bank accounts to IRS every year. http://money.cnn.com/2015/04/01/pf/taxes/irs-penalties/index .html?iid=SF_PF_River | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3184 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Unrealized ki kattakkarledu. I am pretty sure on that. FATCA gurinchi bhaya padoddu. Married aithe 100k undali to get into that. so don't worry. FBAR last 6 years nundi file cheyyaledu but income declare chesamu annaru kada. so moosese option kanna unna vatiki delinquent FBARs file cheyyandi. since it is only one account life is easy. same PDF fillable form ni address, bank name etc anni fill chesesi six copies cheyyandi. each one lo aa year max amount, year name change chesi file cheseyyandi.Just 30-45 mins work. File cheste mee joliki evvadu raadu. 2+ years of 100% open source software usage... | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 182 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
avunaa...kinda Wells annai unrealized gains ki emi padavu annaaru? ayinaa unrealized gains ki eediki pannu kadite....repati rojuna withdraw chesukune samayaaniki manam US lo lekapote...appatiki eediki kattina pannu kante takkuva laabhaalu unte inka manam bichchamettukovaalaa? idi anyaayam saami  | ||
| Rajusk Legend Username: Rajusk Post Number: 36439 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
correction..Rupees | ||
| Rajusk Legend Username: Rajusk Post Number: 36438 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
deeniki kooda vestadu ani sadiva..
vindian bank telling eye are yes..that so and so from vomerica has account with us..and he has x amount of dollars in the account.. once indian govt signs the final agreement..jarigedi ade.. | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 179 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
ya...nenu koodaa...ee weekend chesestaa...
ante nenu kattadam kattesaa kadaa...  kattakundaa undaledu kadaa... naaku "realized" gains only interest from my bank account....all others are 'unrealized' gains... intakee ee FATCA emiti? koddiga layman terms lo seppandi pls | ||
| Asdf Side Hero Username: Asdf Post Number: 4631 Registered: 12-2014 Posted From: 205.157.66.4 Rating: N/A |
declare cheyatam valla pedda poyedi ledu, mana laziness tappa ani naa keyboard opinion. this weekend i shall file | ||
| Rajusk Legend Username: Rajusk Post Number: 36428 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
aa declare seyyani years annitki vaddi..plus chakravaddi vasool sesthad raja.. aa dukan bandh seyyadam okate margam..specially with FATCA coming in to play.. FBAR is voluntary disclosure mana side nunchi..FATCA aithe..mana Bank in vindia declaring to eye are yes.. | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 178 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
LOL aa vachche vaddi (intrst) meeda pannu (tax) kattaa...kaakapote f*bar lo declare seyyaledu...anthe MFs unnaayi...avi ettaagu declare seyyaali...vaatilo above 10K ekkado oka chota undi untadi annee kotha a/c ante naaku doola teeripoddi andukani | ||
| Rajusk Legend Username: Rajusk Post Number: 36426 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
rolu coming and telling maddela..what to do.. | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 177 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
ok ok  - arthamayyindi...but that old account is a 11 yr old account ....all my Home Loan EMIs, MF SIPs etc are linked to that a/c...so it's a pain to close that a/c | ||
| Rajusk Legend Username: Rajusk Post Number: 36422 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
ayana seppedi enti ante..aa pathadi moosesi..kothadi vopen sesi..ramudu manchi baludu laaga..kotha account details FBAR lo declare seyyamani .. | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 176 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
ante interest vahcchedi only one account...prati samvatsaram aa interest ki ikkada tax kattaanu...so do I still need to close the old accounts? | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3182 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Ippati nundi file cheyyandi. Old vi kooda cheyyocchu but not worth the hazzle. Just India velli nappudu old accounts close cheyyandi. ee year nundi money pampithe kotta account ki pampandi. already money unte kooda ask that to be txferred to your dad's account rather than your new account. Kind of old account history wipe off chesi nattu. 2+ years of 100% open source software usage... | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38735 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Ika ippatnunchi file cheyyandi. fill the FBAR form online and file it Just saw FACTA regulations at my bank in India http://www.ingvysyabank.com/personal-banking/products/footer -links/fatca.aspx No Signature | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 175 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
I didn't report for 6 years now am I in a soup? koddiga elaa report cheyyaalo cheppandi pls | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3181 Registered: 06-2012 Posted From: 183.82.98.119 Rating: N/A |
bottom line is do what ever you want but just spend that extra half an hour per year to report. 2+ years of 100% open source software usage... | ||
| Happydays Junior Artist Username: Happydays Post Number: 191 Registered: 02-2015 Posted From: 66.177.91.20 Rating: N/A |
Bottom line is not to have money in banks..Invest chesthe like buying property appudu safe ye naa? best ante..close chestaanu accounts anitini..india ki ellago veltunaanu. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3178 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Yes
No. US lo income ni ela treat chestavo India lo income kooda alane treat cheyyali deninaina. so don't worry about tax implications of unrealized looses or gains. 2+ years of 100% open source software usage... | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 174 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
oka doubt... do we pay taxes on any "unrealized" gains... Example: I have some MFs in India. There are gains/losses every year based on how the market performs, but I never sold any...so they are all unrealized gains/losses. Q1. Do I have to report these to IRS on the FBAR form? Q2. Are there any tax implications for these unrealized gains/losses? Thanks in advance for your kind inputs. | ||
| Banda Junior Artist Username: Banda Post Number: 345 Registered: 08-2008 Posted From: 129.135.0.21 Rating: N/A |
completely agree bro.. file chestha nenu kuda.. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3165 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Brother manam chinna vallam IRS mundu. However when you don't have much to loose, there is no reason for you to be negligent. ee black money issues valla India is seeking cooperation from foreign countries and is also cooperating with foreign countries. Money transfer ni trace cheyyocchu. 2+ years of 100% open source software usage... | ||
| Banda Junior Artist Username: Banda Post Number: 344 Registered: 08-2008 Posted From: 129.135.0.19 Rating: N/A |
oka doubt!!! NRI ante SSN untundi..plus banks will report to IRS ani NRI income ki FBAR required anukuntunna... but NRO SB ki ela track chesthadhi IRS.. there will be no record of my ssn other than indian passport info..moreover NRO can be funded locally in india and can be a joint acc with somebody kadha.. | ||
| Happyguy415 Junior Artist Username: Happyguy415 Post Number: 173 Registered: 01-2014 Posted From: 107.223.209.203 Rating: N/A |
guruvu gaaru, ee filing valla manaki short-term/long-term implications emiti? koddigaa layman terminology lo selaviyyandi. | ||
| Asdf Side Hero Username: Asdf Post Number: 4504 Registered: 12-2014 Posted From: 205.157.66.4 Rating: N/A |
thank you. ee week chesestaanu. aa form sooste cold feet vachi postpone sesa | ||
| New_user Side Hero Username: New_user Post Number: 2763 Registered: 10-2014 Posted From: 173.27.141.54 Rating: N/A |
You can file on your own. In their own words, IRS target is compliance, not punishment. Natural Born Rulers - Certified by Lenin, ki ki ki..... | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3164 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
assalu bhaya padoddu. CPA deggaraki velthe bhaya pette chance undi. Just file it now. Nothing will happen. 2+ years of 100% open source software usage... | ||
| Asdf Side Hero Username: Asdf Post Number: 4502 Registered: 12-2014 Posted From: 205.157.66.4 Rating: N/A |
annai already bhayam tho vaniking. ipudu report cheste fine padtadaa? katte position lo lenu asale do you think better to hire a CFA or file on my own | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3163 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
FBAR is on individual's name. If each individual has less than 10k, you can skip. Other wise you need to file for every individual 2+ years of 100% open source software usage... | ||
| New_user Side Hero Username: New_user Post Number: 2762 Registered: 10-2014 Posted From: 173.27.141.54 Rating: N/A |
Kids, US citizens kada, declare cheyyadam, better. Natural Born Rulers - Certified by Lenin, ki ki ki..... | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3162 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Income report cheyyavu on the tax return but still FBAR reporting is mandatory. 2+ years of 100% open source software usage... | ||
| Rajusk Legend Username: Rajusk Post Number: 36357 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
Yes, if it is in your name.. about kids policies..kind of gray area emo.. | ||
| Guru Side Hero Username: Guru Post Number: 8521 Registered: 05-2009 Posted From: 72.88.214.189 Rating: N/A |
Lic policies declare Cheyala..once for all cheppandy. If yes, kids Peru mida teeskunna policies kuda cheyala..leka light a? | ||
| Asdf Side Hero Username: Asdf Post Number: 4498 Registered: 12-2014 Posted From: 205.157.66.4 Rating: N/A |
i opened this account in june 2013. i cannot report it in june 2014, as by that time interest padaledu so nenu delay seyaledu ani self asserting | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38581 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
CJ illu konedaamu anukunna. luckliy ayanaki tenenat dorikeseduuu No Signature | ||
| Rajusk Legend Username: Rajusk Post Number: 36354 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
mee list lo ne edo oka dantlo still searching.. | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38574 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
ekkada kondaari ani plan then?? No Signature | ||
| Rajusk Legend Username: Rajusk Post Number: 36352 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
Thanks Raja vopinion marchukonnanduku | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3161 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
I stand corrected. Real estate is exempt. 2+ years of 100% open source software usage... | ||
| Rajusk Legend Username: Rajusk Post Number: 36350 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
Bottom nunchi item $ 6 Foreign real estate held directly | ||
| Rajusk Legend Username: Rajusk Post Number: 36349 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
more details here : http://www.irs.gov/Businesses/Comparison-of-Form-8938-and-FB AR-Requirements | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3160 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
adi FBAR kaadu FACTA. 2+ years of 100% open source software usage... | ||
| Rajusk Legend Username: Rajusk Post Number: 36348 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
naaku telisi aithe RE not need to be disclosed in FBAR or FATCA... anduke akkada mana peru meeda emaina accounts unte..avi moosesi..happy gaa realty lo pettukovadam uttamam..for now | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38569 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
daaniki koodaa veedu theesukuntaanu antee USC relinquish and apply Indian citizenship No Signature | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38568 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
excused.. Wells endhi Real estate included nataadu No Signature | ||
| Rajusk Legend Username: Rajusk Post Number: 36347 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
real estate investment in vindia is safe for now from eye are yes | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38567 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Wells, where does FACTA meant Real estate too. FIanncial assets and banks/Mutual funds/stocks etc kathaa http://www.irs.gov/Businesses/Corporations/Summary-of-FATCA- Reporting-for-U.S.-Taxpayers No Signature | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3159 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Nenu living outside USA so naa limit cheppa le 2+ years of 100% open source software usage... | ||
| Rajusk Legend Username: Rajusk Post Number: 36344 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
vonly financial instruments your honor..like cash/stocks/mutual funds/ULIPs in your name..in vindia..will be counted against that number.. real estate is exempt.. so mee properties in Vizag/Hyderabad/Kakinada/Bangalore are exempt edaina towns and cities miss ayyi unte kshamincheyyandi | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3158 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
If you never plan to make white money out of this, you need not report. However if you sell something for lets say 500k and want to deposit that in the bank. You need to pay tax on at least 100k as you always claimed that this property is less than 400k after you pruchased. aina 400k white vacche antha property unte you can hire a CPA who will file the appropriate forms... 2+ years of 100% open source software usage... | ||
| New_user Side Hero Username: New_user Post Number: 2755 Registered: 10-2014 Posted From: 173.27.141.54 Rating: N/A |
If you are single and living in USA, 50k limit. If you live outside USA, 200k http://www.irs.gov/Businesses/Corporations/Summary-of-FATCA- Reporting-for-U.S.-Taxpayers Natural Born Rulers - Certified by Lenin, ki ki ki..... | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38561 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
India lo fixed assets value ela thelusthundhi?? We dont have proper appraisal system kathaa?? Cost price more than 400K ante understandable?? No Signature | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3156 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
600k limit is on fixed assets. Bank/insurance come under FBAR whose limit is 10k 2+ years of 100% open source software usage... | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3155 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
fixed assets akkarledu if the value is less than 400k on the last day of the year. There is no penalty for filing for previous years if you don't fall in any of the following categories 1. You already received a notice that you didn't file FBAR for any year. 2. You are currently under a IRS audit for any year. 3. You have under reported your income from foreign source and have a tax due. 2+ years of 100% open source software usage... | ||
| New_user Side Hero Username: New_user Post Number: 2751 Registered: 10-2014 Posted From: 173.27.141.54 Rating: N/A |
US lo basic principle okati telusu ko. Ikkada mosam cheyyadam chala easy. 100 mandi thappu cheste, okade dorukuthadu. Aa dorikina vadiki, 100 madiki pade punishment vestaru. Natural Born Rulers - Certified by Lenin, ki ki ki..... | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38555 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
so 600K in bank/insurance?? adhiathee eppatiki ravaaali manakiii. Rs 2 crores painaaa No Signature | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3154 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
sum of max value of alls account on any day though out the year. 2+ years of 100% open source software usage... | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3153 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
50K evaru annaru. single aithe 200k married aithe 400K on the last day or 600k at any point of time. 2+ years of 100% open source software usage... | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38529 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
ee FATCA endhi. ee FATCA prakaaram limit 50K antunnadu antee insurance policy above 30 lakhs?? Form 8938 edho include seyyalantaa with return No Signature | ||
| Rajusk Legend Username: Rajusk Post Number: 36339 Registered: 02-2008 Posted From: 170.74.55.82 Rating: N/A |
okaside FBAR ..inkoside FATCA..  NRIs India lo anni bank accounts..Insurance policies...moosesi happy gaa Real Estate lo pettukondi.. as of now Real Estate is out of purview of both..FBAR and FATCA.. nen bhi ..ee year middle ki anni account closing target petta | ||
| Last_avataar Side Hero Username: Last_avataar Post Number: 5456 Registered: 09-2012 Posted From: 174.19.248.136 Rating: N/A |
Thanks Bro 10000 USD takkuva unna nenu kuda katti dobbite godava vodilipotundi Time bad ayite Life smash | ||
| Last_avataar Side Hero Username: Last_avataar Post Number: 5455 Registered: 09-2012 Posted From: 174.19.248.136 Rating: N/A |
Maa friends cheyyatam ledu ani nenu cheyyani anatam ledu Technicalities prakaram chustukunna nenu cheyyavalasina Avasaram ledu I thought it is limites to NRI and NRE account. i read the rules it is applicable to all types of financial accounts. Nneu cheppedi , generally we don't maintain 10000 in all accounts unlesss you are buying something which is transient. Now that question is how long in a yesr the aggregate of acs to be more than or equal to 10000 USD ? TO BE ELIGIBLE FOR declaration If the accounts are too volatile, how do you declare ? means in and out rapidly swtiching between more than 10000 USD to less than 10000 ? Do we need to declare fixed assests also ? will there be any penalty for filing previous years ? | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3152 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Ippati varaku file cheyyani past years ki file cheyyatam. 2+ years of 100% open source software usage... | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3151 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Yes. 2+ years of 100% open source software usage... | ||
| Andhrawala Legend Username: Andhrawala Post Number: 38504 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
delinquent FBAR means what?? No Signature | ||
| Guru Side Hero Username: Guru Post Number: 8518 Registered: 05-2009 Posted From: 72.88.214.189 Rating: N/A |
Do we need to declare insurance policies in India? | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3144 Registered: 06-2012 Posted From: 183.82.98.119 Rating: N/A |
Mee friends bocchedu mandi ki unna, IRS vadiki aa reason cheppa levu kada. Bocchedu mandiki undi vallu file cheyyatledu anduke nenu file cheyyatledu ani. ela dorukuthavu ane thought aithe adi nee discretion. Nenu rule chepthunna. Mee friends cheyyatledu ani rule maradu kada. It is up to you. Naa opinion lo ivi chinna chinnavi. Oka sari chesesthe godava undadu. Veetillo doriki anavasaram gaa later stages lo complicate chesukovaddu. Maa friend okadu India lo property ammi inkokati konukkodaniki US nundi money pampadu. IRS audit lo India lo bank statement adigarata. Veedu isthe mottam history antha tavvi 120k fine vesaru. Veedu request chesi, ignorance ani cheppi adi chesi idi chesi anni fines (not filing penalty, not reporting penalty, interest etc) kalipi oka 14k ki cheyinchukoni kattadu. Debba ki friends andaramu 3 years delinquent FBAR file chesamu. 2+ years of 100% open source software usage... | ||
| Last_avataar Side Hero Username: Last_avataar Post Number: 5453 Registered: 09-2012 Posted From: 12.10.219.227 Rating: N/A |
mAA FRIENDS BOCHEDU MANDIKI more than 10000 USD unnayi in every type of accounts never did... Ayina assets konataniki tappichi banks lo antha dabbu enduku pettukuntaaru SSN and PAN link cheste antha dorikestharu | ||
| New_user Side Hero Username: New_user Post Number: 2655 Registered: 10-2014 Posted From: 173.27.141.54 Rating: N/A |
True. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3141 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
This is wrong. You need to report every foriegn financial institution. Not just the accounts you own but also the accounts that you have signature authority on. Like your company's accounts. NRE,NRO etc doesn't matter for IRS. FBAR is for everything. Even if you are subject to TDS in India, you need to report it in your US tax returns. You get a credit for the tax that you paid in the foreign country. 2+ years of 100% open source software usage... | ||
| Last_avataar Side Hero Username: Last_avataar Post Number: 5451 Registered: 09-2012 Posted From: 174.19.248.136 Rating: N/A |
rUDRAKSHA nenu cheppedi resident acs . kontha mandi aa account kooda chupalani confuse avutunnaru. daniki vesanu, Deeniki TDS undi kanuka. NRI NRE account matrame FBAR lo chupali adi kooda if we receive any interest on 10000 USD we maintain there | ||
| Rudraksha Side Hero Username: Rudraksha Post Number: 4704 Registered: 07-2012 Posted From: 32.214.184.26 Rating: N/A |
kiki, interest earned in NRE/NRO accounts are not taxed in india so we must declare the interest income in USA | ||
| Last_avataar Side Hero Username: Last_avataar Post Number: 5450 Registered: 09-2012 Posted From: 174.19.248.136 Rating: N/A |
This applies for only NRI AND nre accounts May not be for resident SB accounts what is the case of a person sending 10000 USD in a year from US and spent it on some, it need not be reported i think as there is no interest earned. Also interest earned on indian acs in subjected TDS and need not be shown in US | ||
| Asdf Side Hero Username: Asdf Post Number: 4432 Registered: 12-2014 Posted From: 76.109.165.236 Rating: N/A |
oh ok, i have to check. nenu andhra bank tho open chesaanu, online ID kooda marispoyaanu. ipudu details enter seyali ante kalu seyyi aadatledu | ||
| Jalsa Legend Username: Jalsa Post Number: 30822 Registered: 02-2008 Posted From: 69.126.211.48 Rating: N/A |
I have a deposit account which renews every 2 yrs (definitely less than 10K). First one year lopala account close chestey, no interest will be paid for that year aney clause undindhi. So, Turbotax vaadu cheppadam, if you have that clause, you do not need to report the Interest income every year, only after the 2 yr term annaadu. So last year report chesaanu, and will have to report than interest next year again. Only when the tide goes out do you discover who's been swimming naked - Warren Buffett | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3138 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Yeah that is correct. Parents account lo varaku you and them are safe. Friends aithe India lo they will be subject to tax on the money that you give them as they are not related by blood to you 2+ years of 100% open source software usage... | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3137 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Yes June 30. 2+ years of 100% open source software usage... | ||
| Asdf Side Hero Username: Asdf Post Number: 4426 Registered: 12-2014 Posted From: 76.109.165.236 Rating: N/A |
yea, last year kooda interest vachindi. i better do it now, marchipoyaanu daani sangati. thx for the link | ||
| Vja2va Side Hero Username: Vja2va Post Number: 2207 Registered: 11-2014 Posted From: 68.100.237.194 Rating: N/A |
Parents or friends account lo pampiste emi reporting akkaraledukada brother? | ||
| Vasu Side Hero Username: Vasu Post Number: 4326 Registered: 10-2014 Posted From: 47.16.177.98 Rating: N/A |
Every year June a deadline? | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3134 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
If you had USD 10K or more in that account at any point of time, you need to file FBAR. There is no issue if you file them late. If you file now for previous years, there will be no penalty if you don't have any IRS notice currently pending for that year . If you received interest from this account and haven't declared that amount on your tax returns, please file amended returns before filing delinquent FBARs. Penalties for not filing FBAR are too high. Please file them ASAP. I have filed delinquent FBARs for 3 years in January. I called up IRS and they said I am fine. It is in their rules currently to accept delinquent FBARs. http://www.irs.gov/Individuals/International-Taxpayers/Delin quent-FBAR-Submission-Procedures 2+ years of 100% open source software usage... | ||
| Asdf Side Hero Username: Asdf Post Number: 4419 Registered: 12-2014 Posted From: 76.109.165.236 Rating: N/A |
i have an account in India for the last 2 years. ipudu FBAR file cheste emaina prob aa? also, tax returns lo mention cheyaala? |
