Foreign accounts are best defined by the IRS reporting requirements. The IRS website provides a "Workbook on the Report of Foreign Bank and Financial Accounts (FBAR)".
http://www.irs.gov/businesses/small/article/0,,id=159757,00.html#definition2
Additional examples of foreign accounts are:
- Foreign life Insurance policies with a cash surrender value greater than $10,000
- Trusts with foreign financial accounts
- Investments in gold bullion
- Foreign-type individual retirement accounts
- Pension plans that are in the client's control
- Foreign annuities with a balance that exceeded $10,000 any day during the year
- Inheritance from a foreign-based relative
Practice Areas
Victoria Osborn, PA, CFE
- Public Accountant
- Forensic Accountant
- Certified Fraud Examiner (CFE)
- Association of Certified Fraud Examiners
- Charter Member of the Colorado Springs Chapter of Association of Certified Fraud Examiners
- National Society of Accountants
- Colorado Public Accounting Society
Richard V. Osborn, MCSE
- Microsoft Certified System Engineer
- Cisco Certified Network Associate