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#1
07-03-2007, 02:40 PM
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Neteller sums of <$10,000
I never had more than $10,000 in my Neteller account at one time, but combined deposits total over this amount. Should I still file the FBAR form?
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#2
07-03-2007, 02:52 PM
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Re: Neteller sums of <$10,000
You only need to file if your accounts in aggregate totalled more than 10K. So if you did not have another account you are OK. By the way, credit cards from foreign banks also count.
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#4
07-10-2007, 04:04 PM
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Re: Neteller sums of <$10,000
[ QUOTE ]
whats FBAR? [/ QUOTE ] Not sure what it is an acronym for (maybe foreign bank account reporting) but it is a federal government requirement to file this report if you have more than $10,000 in foreign accounts at any point.
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#6
07-10-2007, 04:11 PM
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Re: Neteller sums of <$10,000
[ QUOTE ]
is there any necessary step to take other than withdrawl for sums less than 10k? [/ QUOTE ] I'm not an expert on this since it doesn't apply to me (you could possibly find something more accurate in past threads) but my understanding is withdrawls are not the driving factor. It is whether you had a balance of 10K or more at any point in the reporting year. This balance is an aggregate among all accounts. I'm not sure what accounts need to be considered (for example whether poker sites need to be considered) however it seems clear that netteller and foreign banks do.
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