Does the government know all my accounts? Can I open a bank account that will not be reported to the government?
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If we had to answer yes or no, we'd say you can't open one in the US of which the government will not be aware. First, your Social Security number will be associated with the account. If you earn interest, it will be reported. If you win something or get a reportable bonus on the account, it will be reported. If you made large cash transactions with the account, they may have to be reported.
The US government was recently involved in a case to get information on many Swiss bank accounts for US citizens as well. Is Big Brother watching your account? Likely not, unless you are suspected of illegal activities and are under surveillance. We hope that is not the case.
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If we had to answer yes or no, we'd say you can't open one in the US of which the government will not be aware. First, your Social Security number will be associated with the account. If you earn interest, it will be reported. If you win something or get a reportable bonus on the account, it will be reported. If you made large cash transactions with the account, they may have to be reported. 