Tag: Foreign assets

FATCA Foreign Account Tax Compliance Act

Written April 22, 2022 by Barbara Dillon

Categories: FATCA, FBAR, Foreign Account Tax Compliance Act, Foreign assets, Foreign Financial Accounting, Foreign financial reporting, Foreign tax, International, Sara B. Nance, CPA, Tax planning

The Foreign Account Tax Compliance Act (FATCA) requires that U.S. individuals who hold foreign financial assets must report those assets to the IRS. What are your responsibilities under FATCA rules?