US Treasury Information Filing Requirement

[IraqiFreedom]

From the IRS site...

You must file Form TD F 90–22.1 if you had any financial interest in, or signature or other authority over, a bank, securities, or other financial account in a foreign country. You do not have to file the report if the assets are with a U.S. Military banking facility operated by a U.S. financial institution or if the combined assets in the account(s) are $10,000 or less during the entire year. You must file this form by June 30 each year with the Department of the Treasury at the address dress shown on the form. Form TD F 90–22.1 is not a tax return, so do not attach it to your Form 1040.

[kelleyB]

So does that include like...ARMED FORCES BANK or NAVY CREDIT UNION or AMERICA'S CREDIT UNION? or is a U.S. Military Bank something else?

[IraqiFreedom]

So does that include like...ARMED FORCES BANK or NAVY CREDIT UNION or AMERICA'S CREDIT UNION? or is a U.S. Military Bank something else?
I'm guessing that those institutions are all U.S. financial institutions and are exempt, but I don't really know for sure. On the other hand, all of the Warka accounts are definitely subject to the reporting requirement if they exceed the $10,000 limit, which for some is probably already the case and for others will hopefully be the case in the future.

I found the reference here, http://www.irs.gov/publications/p54/, while looking for tax information on currency exchange, which has been very difficult to locate.

[Hue Mi]

From the IRS site...

You must file Form TD F 90–22.1 if you had any financial interest in, or signature or other authority over, a bank, securities, or other financial account in a foreign country. You do not have to file the report if the assets are with a U.S. Military banking facility operated by a U.S. financial institution or if the combined assets in the account(s) are $10,000 or less during the entire year. You must file this form by June 30 each year with the Department of the Treasury at the address dress shown on the form. Form TD F 90–22.1 is not a tax return, so do not attach it to your Form 1040.I have filled out my 2005 form, copied it, sealed in envelope. Today will mail certified with signature required.
Form is not required if AGGREGATE value of accounts does not exceed $10,000.00. Is due by June 30 of succeeding year. Do not send with 1040 tax form.

I'm suggesting to my friends to to prepare and submit a TD F 90-22.1 even if amount is less than $10k. This should help show ownership.

[hilljack13]

http://www.irs.gov/pub/irs-pdf/f9022-1.pdf

Be sure to file!!!

[MEALTICKET]

I have filled out my 2005 form, copied it, sealed in envelope. Today will mail certified with signature required.
Form is not required if AGGREGATE value of accounts does not exceed $10,000.00. Is due by June 30 of succeeding year. Do not send with 1040 tax form.

I'm suggesting to my friends to to prepare and submit a TD F 90-22.1 even if amount is less than $10k. This should help show ownership.

Sounds like you have prior experince with this!

[lance]

Should we sustain a loss, this will help prove it as well.

[markw]

I hold $17 mil dinar. What's the deal with this form? Besides paying taxes and now this form, what else is going to surprize me regarding dinar & uncle sam ???

[hilljack13]

I hold $17 mil dinar. What's the deal with this form? Besides paying taxes and now this form, what else is going to surprize me regarding dinar & uncle sam ???

This is for those who have overseas accounts with more than $10,000 USD. Some are filing anyway just to be on the safe side.

[markw]

That was my next question. My dinar is in my gun safe in the good ol USA. Is there a real need to file this form?

[hilljack13]

That was my next question. My dinar is in my gun safe in the good ol USA. Is there a real need to file this form?

Nope.......

[† Cool Mr. Ice]

I am not sure how comfortable I would be with giving the government Warkaa account numbers. If a government employee were to somehow steal money from a US bank account using personal info obtained from an IRS form, I'm guessing there would be a clearly defined path of recourse to take. With an Iraqi account... would that path be as clearly defined?:confused: