Locking Down YOUR Offshore Accounts...
"The Swiss government so far has refused to allow UBS to turn over these records," , "citing the country's bank secrecy laws. However, negotiations are underway that may permit banking records to be released on a case-by-case basis. If you're a U.S. person with an unreported offshore account at UBS - or anywhere else - contact a tax lawyer immediately for assistance. The IRS has you in their cross hairs."
"U.S. clients have the option of transferring their assets to U.S.-based wealth-management units, or to another offshore bank. They can also repatriate the assets to the United States. All these options create a paper trail that many clients - especially those who didn't report the income or gain from their accounts to the IRS - would prefer to avoid."
"U.S. persons - U.S. residents especially, but increasingly, even U.S. citizens living abroad, are persona non gratae at offshore banks. Moreover, as the Obama administration beefs up the Securities & Exchange Commission, you can expect renewed efforts by this agency to penalize offshore banks that permit U.S. investors to purchase foreign securities that aren't SEC-registered. I know of at least one offshore bank that already prohibits U.S. residents from purchasing non-SEC registered securities. I think this number will increase in the months and years ahead."
"Here are a few ideas that you may help you bypass these restrictions:
~Have the bank or a private portfolio manager trade your portfolio. That way, you're not providing investment instructions from the United States.
~Place your assets in a tax-compliant offshore structure, such as an offshore trust, an offshore corporation, an offshore LLC, an offshore insurance policy, or an offshore annuity. Again, you may lose the ability to make investment decisions.
~If you want to manage your own account, some offshore banks will accept investment instructions from U.S. persons if they originate outside the United States.
"The Swiss government so far has refused to allow UBS to turn over these records," , "citing the country's bank secrecy laws. However, negotiations are underway that may permit banking records to be released on a case-by-case basis. If you're a U.S. person with an unreported offshore account at UBS - or anywhere else - contact a tax lawyer immediately for assistance. The IRS has you in their cross hairs."
"U.S. clients have the option of transferring their assets to U.S.-based wealth-management units, or to another offshore bank. They can also repatriate the assets to the United States. All these options create a paper trail that many clients - especially those who didn't report the income or gain from their accounts to the IRS - would prefer to avoid."
"U.S. persons - U.S. residents especially, but increasingly, even U.S. citizens living abroad, are persona non gratae at offshore banks. Moreover, as the Obama administration beefs up the Securities & Exchange Commission, you can expect renewed efforts by this agency to penalize offshore banks that permit U.S. investors to purchase foreign securities that aren't SEC-registered. I know of at least one offshore bank that already prohibits U.S. residents from purchasing non-SEC registered securities. I think this number will increase in the months and years ahead."
"Here are a few ideas that you may help you bypass these restrictions:
~Have the bank or a private portfolio manager trade your portfolio. That way, you're not providing investment instructions from the United States.
~Place your assets in a tax-compliant offshore structure, such as an offshore trust, an offshore corporation, an offshore LLC, an offshore insurance policy, or an offshore annuity. Again, you may lose the ability to make investment decisions.
~If you want to manage your own account, some offshore banks will accept investment instructions from U.S. persons if they originate outside the United States.
"Whatever you do, don't give up! As the global economy collapses, it's more important than ever to get a portion of your wealth out of the United States - away from litigious lawyers, nosy competitors, and most of all, out of the U.S. dollar."
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