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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (23919)	6/19/2011 3:41:35 PM
From: pogohere	Respond to of 50719

I believe it's the amount of the account (the value of the bailment in this case) that triggers the reporting requirement and not the type of metal. However, the regulations only specify gold, whereas the IRS FAQs address the issue more broadly: Q. Is an FBAR required for accounts maintained with financial institutions located in a foreign country if the accounts hold noncash assets, such as gold? A. Yes. An account with a financial institution that is located in a foreign country is a financial account for FBAR purposes whether the account holds cash or non-monetary assets. irs.gov