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Posted by Arlie Haig on April 15, 2007, 1:23 pm
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My partner just discovered this year that he should have
reported his foreign bank account (obtained in 2001) on form
1040 sch B. From the USA he wired more than $10k in 2001 and
also in 2003, to buy property. Due to wiring these amounts,
there is a requirement to file form TD F 90-22.1 - which he
didn't do. There is a 6-year statute of limitation on
reporting this transaction, so now what should he do?...file
the TD form for both years with explanations attached, or
only file for year 2003 with explanation, or what...?
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