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Personal Finance and Investing

Colgate 64

(14,840 posts)

5. You can, but

Reply to Marthe48 (Original post)

Wed Nov 6, 2024, 09:33 AM

Nov 6

You can, but you need to be very careful in reporting any foreign account you establish on your Federal tax form. Failure to do so carries heavy penalties.

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Marthe48 IbogaProject

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Can a person transfer assets offshore? [View all] Marthe48 Nov 6 OP

I would also like to know about this Lonestarblue Nov 6 #1

I looked into this in 2016 Joinfortmill Nov 6 #3

Thanks. My account is actually with them. Lonestarblue Nov 6 #4

Does your custodian offer short-term/fixed-income investment options? lastlib Nov 6 #6

Good idea, and yes it does. I will move some assets to a money market. Lonestarblue Nov 6 #7

Glad to help! lastlib Nov 6 #8

The IRS asks the question, Do you have any Ilsa Nov 6 #2

You can, but Colgate 64 Nov 6 #5

There is also a more serious reporting requirement to the Dept of Treasury every June IbogaProject Nov 6 #9