Neteller TDF 90221

[cbloom]

I'm trying to fill out TDF 90221 for my Neteller account but I can't find the info on their web site, and they aren't responding to my emails to support.

Has anyone done this and have all the info?

[cbloom]

Well this is what I found :

* NETELLER (UK) Ltd (a wholly-owned subsidiary of the NETELLER Group) is authorised and regulated by the Financial Services Authority in the United Kingdom as an e-money issuer (FSA Register Number: 229737; UK VAT GB 002 4257 28)


Key registered offices

* NETELLER PLC, 1 Circular Road, Douglas, IM1 1AF, Isle of Man

[citanul]

i'm trying to fill this form out as well and am ignorant of a great many things, such as what country the money is being held in. is there a resource thread for us dumb people who still would prefer to not mess this form up?

[yahboohoo]

Please provide a link to the form and/or the questions you need answered.

Keep in mind: It's not like if you say the money is in the Isle of Mann and it's actually in Switzerland that the US Treasury is going to flip out. You're making the effort to be legal and legit. They just don't want American (criminals and überrich folks, specifically) parking large sums offshore that they don't know about.

My guess is that the only info they truly care about is how much you have outside the US.

[jrbick]

Can someone explain this "does filer have a financial interest in this account?"

Their instructions aren't exactly helpful for this one. Edit: or if they are i'm just really dumb /images/graemlins/frown.gif

[jrbick]

Are they asking me if I have authority over the account? Like, if I didn't I'd have to list the other person's name who does have interest in the account? I'm confused.

[schwza]

[ QUOTE ]
Can someone explain this "does filer have a financial interest in this account?"

Their instructions aren't exactly helpful for this one. Edit: or if they are i'm just really dumb /images/graemlins/frown.gif

[/ QUOTE ]

my understanding is that they are trying to seperate out someone who just manages an account from someone who actually has money in the account. you're the latter.

[schwza]

[ QUOTE ]
i'm trying to fill this form out as well and am ignorant of a great many things, such as what country the money is being held in. is there a resource thread for us dumb people who still would prefer to not mess this form up?

[/ QUOTE ]

i wrote isle of man b/c that's where they're based but as somebody else it's not like they'll think you're trying to hide anything.

my accountant advised me to fess up about all previous years in which i was supposed to have been filing this form along with a letter that said basically "i only recently found out that neteller might be reportable. i'm sorry if i was supposed to file for previous years. here's all my info. i'm not trying to hide anything."

[Homer]

I thought it was established by someone smarter than me that this form wasn't necessary for Neteller because it isn't a bank account. Is that not correct?

[I_C_ALL]

http://www.irs.gov/pub/irs-pdf/f90221.pdf

You will need Adobe, but you can type in the form.

If that link doesn't work, click the first result on this page.
http://search.irs.gov/web/query.html?col...&qt=90-22.1 (http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A)

[schwza]

[ QUOTE ]
I thought it was established by someone smarter than me that this form wasn't necessary for Neteller because it isn't a bank account. Is that not correct?

[/ QUOTE ]

my understanding is that there is debate but that most informed people think that you do have to report neteller but you don't have to report online poker accounts. i reported both to be safe. might increase the chance of an audit to report, but i feel like that wouldn't be that terrible.

[4_2_it]

Here's the rules:

[ QUOTE ]
Who Must File this Report Each United 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.

[/ QUOTE ]



[ QUOTE ]
Financial Account Generally includes any bank, securities, securities derivatives or other financial instruments accounts. Such accounts generally also encompass any accounts in which the assets are held in a commingled fund, and the account owner holds an equity interest in the fund. The term also means any savings,
demand, checking, deposit, time deposit, or any other account maintained with a financial institution or other person engaged in the business of a financial institution.

Account in a Foreign Country;foreign country; includes all geographical areas located outside the United States, Guam, Puerto Rico, and the Virgin Islands.

Financial Interest A financial interest in a bank, securities, or otherfinancial account in a foreign country means an interest described in either of the following two paragraphs:

(1) A United States person has a financial interest in each account for which such person is the owner of record or has legal title, whether the account is maintained for his or her own benefit or for the benefit of others including non-United States persons. If an account is maintained in the name of two persons jointly, or if several persons each own a partial interest in an account, each of those United States persons has a financial interest in that account.

(2) A United States person has a financial interest in each bank, securities, or other financial account in a foreign country for which the owner of record or holder of legal title is: (a) a person acting as an agent, nominee, attorney, or in some other capacity on behalf of the U.S. person;
(b) a corporation in which the United States person owns directly or indirectly more than 50 percent of the total value of shares of stock; (c) a partnership in which the United States person owns an interest in more
than 50 percent of the profits (distributive share of income); or (d) a trust in which the United States person either has a present beneficial interest in more than 50 percent of the assets or from which such person receives
more than 50 percent of the current income.

[/ QUOTE ]

[ilikeaces86_]

[ QUOTE ]
[ QUOTE ]
I thought it was established by someone smarter than me that this form wasn't necessary for Neteller because it isn't a bank account. Is that not correct?

[/ QUOTE ]

my understanding is that there is debate but that most informed people think that you do have to report neteller but you don't have to report online poker accounts. i reported both to be safe. might increase the chance of an audit to report, but i feel like that wouldn't be that terrible.

[/ QUOTE ]

IRS "You didn't fill out a form saying you had money stuck in Neteller"

You "Ya I didn't think I had to since its not a bank account and I didn't have access to my money and its not guaranteed."

IRS "Oh ok well we consider it a bank account so you should of filled out the form."

You "Ok I will do that from now on."

IRS "Thanks biatch we just like taking your money its all good."

[Sniper]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I thought it was established by someone smarter than me that this form wasn't necessary for Neteller because it isn't a bank account. Is that not correct?

[/ QUOTE ]

my understanding is that there is debate but that most informed people think that you do have to report neteller but you don't have to report online poker accounts. i reported both to be safe. might increase the chance of an audit to report, but i feel like that wouldn't be that terrible.

[/ QUOTE ]

IRS "You didn't fill out a form saying you had money stuck in Neteller"

You "Ya I didn't think I had to since its not a bank account and I didn't have access to my money and its not guaranteed."

IRS "Oh ok well we consider it a bank account so you should of filled out the form."

You "Ok I will do that from now on."

IRS "Thanks biatch we just like taking your money its all good."

[/ QUOTE ]

Technically, this form is filed with the Dept of Treasury and not the IRS.

There are penalties for not filing...