US Tax Reporting of Foreign Investment Accounts | FBAR Lawyer

Hello, and welcome to Sherayzen Law Office video blog; my name is Eugene Sherayzen and I’m an international Tax Attorney and owner of Sherayzen Law Office, Ltd.

Today, we’re continuing our series of blogs from Zurich, Switzerland and in fact, we are standing in front of Swissquote. This is the company that trades Swiss stocks and the reason why it’s important is because there are still a lot of taxpayers with Swiss stocks who do not realize that even if they disclose their Foreign Bank Accounts, they also have to disclose their Foreign Stock Trading Accounts and Foreign Mutual Funds. All of this has to be disclosed to the IRS.

Now, how do you disclose it? There are two main forms that you need to worry about: FBAR, the Foreign Bank and Financial Accounts Report or Form 8938 which is attached to your tax return. Also, if you are investing in Foreign Mutual Funds, e.g. Swiss Mutual Funds through Swissquote, you also need to disclose them on Form 8621, which is quite complex.

If you would like to learn more about what you need to do in order to stay in US Tax Compliance, with respect to your Foreign Investment Accounts, you can contact me directly at (952) 500-8159 or you can email me at [email protected]

Thank you for watching, until the next time.

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US Tax Reporting of Foreign Investment Accounts | FBAR Lawyer
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US Tax Reporting of Foreign Investment Accounts | FBAR Lawyer
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A US international tax attorney, Mr. Sherayzen, discusses the US tax compliance requirements concerning foreign investment accounts while standing in front of a Swissquote branch in Zurich, Switzerland. The expert specifically mentions FBAR and FATCA Form 8938 among potential US tax reporting requirements applicable to foreign investment accounts.
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Sherayzen Law Office, Ltd.
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