The official NETELLER thread. (138 days on.) #2 of 3.

[SwordFish]

Sniper -

We are making the same point. I agree that Neteller is a foreign financial account and is subject to the $10,000+ rule.

What I was disputing was gmblpdam's statement that you must report ANY MONEY AT ALL in a foreign account. This is completely false.

He also stated that you must file a TD if your AVERAGE balance for the year was $10,000+. Although a TD is required in this case, that is not what the law states and his statement is misleading. There are many people that surpass a $10K balance during the year and are required to file a TD, even though they do not AVERAGE $10K in the account for the year.

***Usual Disclaimer: Anyone that needs advice should consult a tax professional to look at their particular situation.

SF