Monday, June 4, 2012

Report foreign investments by June 30


If you have foreign bank, savings, or investment accounts that exceeded $10,000 in 2011, you are required to file "Treasury Department Form 90-22.1" by June 30, 2012. This is not a form that you file with your income tax return. Rather, it is a separate form filed with the Treasury Department in Detroit. The report must be received by the Treasury Department, not postmarked, by the June 30 due date. Penalties for failing to meet this filing requirement are severe and can include jail time. Contact our office for details or filing assistance.

No comments:

Post a Comment