Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

FBAR Reporting Req't for Warka


M.A.S.
 Share

Recommended Posts

For those of us who have opened a Warka account and funded it with less than 10k USD, there is no Federal reporting requirement necessary, of the foreign account. Once there is an R/V, the amount of IQD in our Warka account will not change, But the conversion from IQD to USD will change and will most likely equal an amount greater than 10k USD. What are the tax consequences, or reporting duties of this situation, when the amount in a foreign (Non-US Bank) account suddenly appreciates and exceeds the 10k reporting requirement?

Appreciate some guidance from ExecConsult.

Thank you

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.