# Disclosing bank account information?



## Jen114 (Mar 5, 2011)

What is this I hear that you are supposed to advise the USA IRS of your bank balance exceeds that of 10,000 dollars? Why is this? Isn't this intrusion of privacy?


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## Davis1 (Feb 20, 2009)

Jen114 said:


> What is this I hear that you are supposed to advise the USA IRS of your bank balance exceeds that of 10,000 dollars? Why is this? Isn't this intrusion of privacy?


You are probably thinking of bank transfers from overseas to the US or what you carry into the country

so say you bank in mongolia send money for you to the US over $10k ..the bank will notify the Fed ... its just supposed to be an anti drug moving money action 

of course they get lots of $9900 transfers ...lol


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## twostep (Apr 3, 2008)

AML (anti money laudrying rule) applies to transactions within the US as well as from the outside. Cash transations over 10k per account/day will be reported. As client you may not realize this during a anking day.
"I heard" happens to be one of my favorite gnaw bones. Get your information from a real source.


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## Bevdeforges (Nov 16, 2007)

Jen114 said:


> What is this I hear that you are supposed to advise the USA IRS of your bank balance exceeds that of 10,000 dollars? Why is this? Isn't this intrusion of privacy?


If you transfer $10,000 or more of funds or any "financial instruments" outside or into the US, the bank or other agency making the transfer will report the transaction to the Treasury Dept.

But there is also a requirement each year to report your overseas bank accounts (and other "financial accounts") to the Treasury Dept. if the total balance of all your non-US accounts exceeds $10,000 at any point during the year. You file a form TD F 90-22.1 which you can download from the IRS website. 

Is it intrusive? You betcha. But there's a $10,000 fine for failure to file (should they take an interest in you for some reason). And the form just keeps getting more intrusive every year. Used to be you just listed your accounts (and yes they ask for account numbers and everything) and checked off the range of the highest balance for the year. Now, it's an 8 page form, and they ask for the highest balance for the year based on month-end balances and you're supposed to categorize the accounts by their criteria.

Oh yeah, don't send the form in with your tax returns. They go separately to the Treasury Dept. (address is on the form) and these forms are due by the end of June each year.
Cheers,
Bev


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## Jen114 (Mar 5, 2011)

I am talking about the form that you have to file when you foreign bank account exceeds 10k Form 
TDF 90.22-1??


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## Jen114 (Mar 5, 2011)

Thanks bev!!!

Geeze this is ridiculous !! And what are the going to do with this information ?? I mean I left the states when I was a 9 years old! What if I have figuratively speaking 100k in my account what are they going to do with this information ? They really know how to put off a girl from going back to the states lol


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## Jen114 (Mar 5, 2011)

What if accounts in husbands name?


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## Jen114 (Mar 5, 2011)

Thank you again! 

Children were not eligible for passports as you have to have lives in the states for 3 years after your 13 th bday in order to get one. As regards tax returns etc yes I understand it is a procedure that has to be done . Regarding bank accounts, I assume if accounts are in husbands name then the money does not have to be reported? Or bec we are married it doesn't matter?


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## Jen114 (Mar 5, 2011)

I am American , I filed i130 for spouse and children. This all came up bec of the affidavit of support . I am there sponsor


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## Jen114 (Mar 5, 2011)

I got approval from Rome for immigration, Naples then sends a package of documents to be filled out . Untill last month when filling documents had no idea about all these things, taxes etcetera


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## twostep (Apr 3, 2008)

Jen114 said:


> I am American , I filed i130 for spouse and children. This all came up bec of the affidavit of support . I am there sponsor


Do you have a US residence, do you have Us income or funds? Please read up the requiremnts which are fairly clear.


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## Jen114 (Mar 5, 2011)

I have a usa passport


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## Jen114 (Mar 5, 2011)

No income , have not lived in states for 22 years


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## twostep (Apr 3, 2008)

Jen114 said:


> No income , have not lived in states for 22 years


Have you taken care of I-864? Do you have a US residence?


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## theresoon (Apr 11, 2008)

Davis1 said:


> You are probably thinking of bank transfers from overseas to the US or what you carry into the country
> 
> so say you bank in mongolia send money for you to the US over $10k ..the bank will notify the Fed ... its just supposed to be an anti drug moving money action
> 
> of course they get lots of $9900 transfers ...lol


Do a couple of those $9900 and your bank will start investigating. If they don't get a satisfactory answer and you keep doing it you will be asked to close your account.


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## Jen114 (Mar 5, 2011)

Twostep this is were we are stuck question 25 of the I 864. Basically as soon as we fill it out we need to fax the d230 to embassy and they then send us to Naples for final interview. We are stuck filling this form as it asks have you filed. Tax returns to IRS .


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## Jen114 (Mar 5, 2011)

No residence. We plan on buying once we arrive I have not been in states for more than 30 days in the last 22 years


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## Bevdeforges (Nov 16, 2007)

Jen114 said:


> Thanks bev!!!
> 
> Geeze this is ridiculous !! And what are the going to do with this information ?? I mean I left the states when I was a 9 years old! What if I have figuratively speaking 100k in my account what are they going to do with this information ? They really know how to put off a girl from going back to the states lol


It has nothing to do with going back to the States. Every US citizen is supposed to be filing tax returns and those Treasury forms every year, no matter where they live and no matter when they left the US.

You don't have to disclose any accounts your husband holds, provided they are in his name only and you don't have signature authority on them. If they are joint accounts, there is a page on the Treasury form for that.

Basically, the information gives them what they need to know to go in and bully the banks to give up your banking information so they can make sure you're not money-laundering or avoiding taxes by keeping your money outside the US. Chances are they won't actually do much with the information unless they have some reason to suspect you of doing something. But as you are finding out, if you want to sponsor your family to come back to the US with you, you have to have your various filings in order.
Cheers,
Bev


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