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This blog is no longer updated.
Since I own the domain name for a couple more years, and the hosting was paid-in-advance, it's still here. But I've moved on to Hawaii, and no longer have the need to publish all the sorts of neat stuff that made up the contents of this website.
If you've linked to me, you are invited to unlink, as your readers will no longer be presented with new content. Thanks, Steve
The PATRIOT Act wants you to declare your local savings.
Thursday, June 23, 2005 : Stephen D. Carroll, rokus.net
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I'm not going to narc you out, but be advised of this form from the IRS: Report of Foreign Bank and Financial Accounts (pdf, new window).
Each Unites [sic] States person, who has a financial interest in or signature authority, or other authority over any financial accounts, including bank, securities, or other types of financial accounts in a foreign country, if the aggregate value of these financial accounts exceeds $10,000 at any time during the calendar year, must report that relationship each calendar year by filing TD F 90-22.1 with the Department of the Treasury on or before June 30, of the succeeding year.
If you had $10K in a Korean bank at any time in 2004, you need to fill out this form. If you've got a lien on your chun-sei and it's worth more than $10K, fill out the form.
Like it or not, the PATRIOT Act is the source of this requirement. Failure to report your assets could lead to forfeiture, amongst other things.
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