moving money to foreign bank
Can you explain the steps necessary to open an out of country bank account and move money to it legally.
Terry Says
Well, first are you aware that if you open a foreign bank account with more than $10,000 in assets, you must file a “FBAR” report (foreign bank account report) every year when you file your taxes?
Many foreign banks have offices in the United States, or you can travel to a foreign country and open an account there, and wire the money to the account. But it’s not like you can “hide” the money in an account with a foreign-domiciled bank.
