Featured Jobs
|
DWC - The 401(k) Experts
|
|
BPAS
|
|
Plan Administrator, Defined Benefit & Cash Balance The Pension Source
|
|
Defined Benefit Plan Consultant/Actuarial Analyst Sentinel Group
|
|
Regional Vice President, Sales MAP Retirement
|
|
Strategic Retirement Plan Consultant Retirement Plan Consultants
|
|
Retirement Relationship Manager MAP Retirement
|
|
MAP Retirement
|
|
MAP Retirement
|
|
Sentinel Group
|
|
Pattison Pension
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
Groom Law Group Comments on FBAR Filing Requirement for Pension Plans (PDF)
Groom Law Group 
[Opinion] Oct. 9, 2009
20 pages. Excerpt: We write to respond to the Treasury's request for comments regarding FBAR and the accompanying instructions. As noted in our July 29, 2009 letter and discussed in more detail below, the policy goals of FBAR ? to detect and prevent taxpayers from hiding assets offshore toavoid income taxes or launder money ? are not advanced by requiring U.S persons to file an FBAR with respect to 'foreign financial accounts' held by or for the benefit of Plans. Nevertheless, Treasury may expect at least a 40 percent increase in annual FBAR filings (nearly 75,000 additional filings) from Plans qualified under Code section 401(a), which would test IRS's already limited resources to indentify violators. Thus, we respectfully make the following recommendations[.]
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |