Why does my bank need to know if I have an account overseas? Will they report me to the IRS?
The only reason you would need to tell one bank about accounts at another bank is if you are moving funds between the two, or providing a list of assets such as when applying for a loan. Under normal circumstances, there would be no reason for any entity to report your account to the IRS. If however, you are attempting to defraud someone or commit a crime, any entity could have cause to report this.
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The only reason you would need to tell one bank about accounts at another bank is if you are moving funds between the two, or providing a list of assets such as when applying for a loan. Under normal circumstances, there would be no reason for any entity to report your account to the IRS. If however, you are attempting to defraud someone or commit a crime, any entity could have cause to report this.
