March 5, 2010
IRS offers FBAR relief to certain non-citizens, non-residents,
non-domestic entities, certain commingled funds and persons with
signature authority
The IRS has issued two new pieces of guidance providing
targeted relief for certain Foreign Bank Account Report (FBAR)
requirements.
Announcement 2010-16 temporarily suspends the filing requirements
for certain persons who are not United States citizens, United
States residents or domestic entities (corporations, partnerships,
trusts or estates), while Notice 2010-23 provides relief for persons
with signature authority over, but no financial interest in, a
foreign financial account, and persons with a financial interest in,
or signature authority over, certain foreign commingled funds.
Read more.
For more information
Cynthia Keveney
Financial
Services
Grant Thornton LLP
T 212.624.5495
E Cynthia.Keveney@gt.com
Visit
www.GrantThornton.com.
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