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Politics : Welcome to Slider's Dugout
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To: pogohere who wrote (23908)6/19/2011 2:29:50 AM
From: Proud Deplorable2 Recommendations   of 50713
 
Yes, I stand behind my statement. You don't need a lawyer
If it is an "account" with your name on it then it needs to be included in your TD F form. If you don't have any foreign accounts then you do now if you have a Goldmoney or similar kind of investment.

Read the rules. They are available anywhere on the net.

There are some who say that GoldMoney is not a bank account but a storage account however banks can also be considered as storing money or paper money or whatever. A smart person will not start getting too technical with the DHS over this lest they get suspicious that you might be laundering money and that can up the fines to 500,000.00 maximum. The best thing to do is file the FBAR to show you are on the up and up. There is NOTHING wrong or illegal with having a GoldMoney account but what IS illegal is not reporting it. You could get into a semantical argument with DHS and lose and it could cost you a fortune. Best to have physical gold and silver and hide it if you are worried but there is nothing requiring you to declare bullion holdings inside the USA. Anyway I have been waiting to see a ruling on this too. I claim that if Goldmoney is used as storage maybe you can get by but GoldMoney is used to buy and sell things making it a financial account

Here is the problem right here
goldmoney.com

So...is it an offshore account? You judge
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