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  1. Does account in should be reported on fbar? Is it reportable even if the investment is in silver, as opposed to gold. How much will be penalty if it is reported now. Thanks.

  2. My guess (and it is just a guess informed by anecdotal evidence) is that the IRS talks up a strong game on the filing deadline — “Your paper must be in the tender hands of one of our agents in Detroit on or before June 30, or You Will Die.” In fact, I think there is some slop in the system. You can probably be a little late without them sending out a penalty letter. How late? I don’t know. I’d guess it is measured in days rather than weeks.


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Tax laws change over time, and the information in this post above may be less accurate today than it was at the time of the last revision. This post is not tax advice for your specific situation. Please contact an international tax professional to get personalized advice for your situation.