The Foreign Account Tax Compliance Act requires foreign financial institutions (FFIs) worldwide to report accounts held by US persons (citizens, permanent residents, and certain visa holders) to the IRS. Enacted in 2010, FATCA imposes a 30% withholding tax on US-source payments to non-compliant institutions. Over 110 countries and 300,000+ FFIs participate. For US persons living abroad, FATCA means their foreign banks report account balances and income to the IRS annually. Non-compliance can result in penalties of $10,000-$50,000 per unreported account. FATCA works alongside FBAR reporting requirements.
Brooklyn stands at a pivotal intersection of historical charm and aggressive modernization, presenting a unique opportunity for sophisticated capital alloc
Manhattan remains the preeminent destination for **foreign direct investment** in the United States real estate sector, offering unparalleled stability and
New York City remains the undisputed global capital for high-end real estate, attracting **international capital** at an unprecedented rate. In the first h
For high-net-worth entrepreneurs and corporate executives, the United States remains the world's premier destination for innovation and capital growth. Our
Need help with your visa or relocation?
Schedule a Consultation