Saturday, August 24, 2013

Switzerland will soon release bank information to the US | Bellevue Tax Lawyer

Two of the larger Swiss banks have agreed to release bank information to U.S. authorities.  The information consists of leaver data from two of the larger Swiss banks.  Leaver data is the data about people that switched banks or transferred assets when it became know that the U.S. authorities were getting more information about American with Swiss holdings.

The statement about the information release can be found, here.

If you have not filed FBARs and own a Swiss account, you should contact an attorney to review your situation.  If you have any questions, or concerns about your FBARs or other foreign reporting requirements, please do not hesitate to contact a tax professional.    

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