IRS share information with foreign tax agencies??

Discussion in 'Retail Brokers' started by Luis_89, Apr 25, 2011.

  1. Luis_89


    I am foreign citizen with invetsment and brokerage account in USA

    My country is OECD member (Non EU member) and promtly will sign tax treaty with USA

    What kind of information about my accounts share IRS with foreign tax agencies?

    IRS also could share information about off shore trust wich appear my name as beneficial owner?

    Where could send my investments and brokerage accounts and avoid local penalties?
  2. luisHK


    Some brokers in Gibraltar do offer nominee service although I have no idea how useful they are. The IRS or US banks might be a problem if your tax department asks for some information but you have to check what the tax treaty states and how it is applied. Another issue, not linked to any tax treaty AFAIK is simply your broker, which could give information about the account owner if asked by some of your home country official in case the account gets investigated. At least the IB rep in HK said they do give out the information if asked , although it's very rare and the do open lots of accounts for non US citizens acting behind corporations registered in tax heavens.