is FBAR for offshore Gold storage accounts?

[tastymannatees]

Re: is FBAR for offshore Gold storage accounts?

Then again, the IRS can't be held responsible for giving wrong/bad information . . .

Precious Metals held directly

Not sure where "directly" begins and ends. Gold in my pocket vs safety deposit box to allocated or un-allocated stored in a bullion bank?

My Perth Mint account is a no brainer but penalties are stiff and a good idea to get interpretations correct and watch for any rule changes on these filings that might sink the ship.

Up to $10,000 for failure to disclose and an additional $10,000 for each 30 days of non-filing after IRS notice of a failure to disclose, for a potential maximum penalty of $60,000; criminal penalties may also apply	If non-willful, up to $10,000; if willful, up to the greater of $100,000 or 50 percent of account balances; criminal penalties may also apply

[globaleconomicollaps]

Re: is FBAR for offshore Gold storage accounts?

Thanks all. After an hour of furious emailing back and forth with the accountant I think I am in the clear. A heads up like this could save a fortune.

Not sure where "directly" begins and ends. Gold in my pocket vs safety deposit box to allocated stored in a bullion bank?

My Perth Mint account is a no brainer but penalties are stiff and a good idea to get interpretations correct and watch for any rule changes on these filings that might sink the ship.

Up to $10,000 for failure to disclose and an additional $10,000 for each 30 days of non-filing after IRS notice of a failure to disclose, for a potential maximum penalty of $60,000; criminal penalties may also apply	If non-willful, up to $10,000; if willful, up to the greater of $100,000 or 50 percent of account balances; criminal penalties may also apply