Guide to Reporting foreign financial account

The U.S. government wants U.S. persons (individuals and legal entities) to give them the details of their foreign bank or other financial accounts. Enforcement is "encouraged" by means of very heavy penalties for even minor infractions.

The information required includes


the name, address, birthdate and ID # of those with either a financial interest in the account(s) or signature authority over the accounts, and

the name and full address of the foreign financial institutions and the account number of each financial account, plus

the maximum balance in each account during the calendar year.


The rules are brief and ambiguous and the exceptions are buried in the fine print. But the potential penalties for a failure to disclose offshore financial accounts are severe -- even if the failure is not intentional.

The Guide to Reporting Offshore Financial Accounts by Vernon Jacobs is the most extensive source of information available about the requirements to disclose foreign accounts and the various legal exceptions that are available.

The foreign account information gives the government the ability to identify everyone who has money outside the U.S. and the information is available to federal, state and local law enforcement officials with virtually non-existent privacy protection.

However, there are legal exceptions to having to file this report (TDF 90-22.1) and many taxpayers are confused about what constitutes a financial account, a foreign account, a financial interest, an indirect interest or signature authority. This book explains these and other related terms in plain English.

This extensive 152 page book includes the full text of the applicable laws, the Form TD F 90-22.1, IRS instructions and selected (non repetitive) information from over 100 web sites that include information about the Foreign Financial Account Report.

The guide also includes answers to dozens of questions received by the author from members of the Jacobs Report who have posed questions regarding the requirements for filing the report about their foreign financial accounts. It also includes IRS answers to questions from tax advisors during a national phone forum in late 2007 and a copy of the related part of the Internal Revenue Manual used by IRS field agents during audits.


This is the most extensive source of information available on the subject of the foreign bank account reporting form TD F 90-22.1


The e-book (digital) version is $38. A PDF copy of the report will be delivered to your web browser within a minute (or less) after placing your order. (The e-book edition is recommended for international orders.) There are no restrictions on printing the e-book.

A printed edition is available for $57.00 which includes shipping via U.S. Priority mail in the U.S. The printed edition of the report is published in a three ring binder. Delivery usually takes from three to five work days.

A full copy of the report is also included in the International Wealth Protection Online Library, which includes all of the e-books, reports, newsletters and articles published by Offshore Press, Inc. Subscriptions to the online digital library are $240 for one year.

Those who prefer to order with a check or money order should send it to Offshore Press, Inc., PO Box 8137, Prairie Village, KS 66208

If you are disappointed with the book for any reason, we will refund your money without any hassle or delay.

Vern Jacobs
Offshore Press, Inc.

As required by U.S. Treasury Regulations governing tax practitioners, any written tax advice contained herein cannot be used by any taxpayer for the purpose of avoiding certain tax penalties that may be imposed under the Internal Revenue Code. For further details see http://www.offshorepress.com/vkjcpa/disclosurerules.htm