A Cross-Border Finance & Tax Podcast To Filter Out The Noise
Hosted by Jane Mepham, CFP & Manasa Nadig, EA
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About
The International Money Café Podcast addresses the unique financial, tax, and life challenges faced by foreign-born individuals, foreign nationals on work visas, and U.S expats living outside the U.S.
Join us as we navigate the financial complexities, decode the challenges, and provide actionable strategies for thriving financially in a global landscape.
All Episodes
Every episode gives you tips on pursuing your financial dream while staying tax-compliant, saving you hours of combing the Internet for information relevant to your situation!
Ep 61: What Is English For "FATCA & FBAR Reporting"?
We discuss the complexities surrounding FBAR and FATCA, two acronyms that often cause confusion and concern for foreign-born individuals.
We explain the importance of compliance with these regulations, the filing requirements for U.S. citizens and U.S. tax residents (includes foreign nationals on work visas), and the potential penalties for non-compliance.
And yes, the IRS knows about your overseas assets. We also cover the amnesty programs available for those who have missed reporting their foreign accounts.
Takeaways
FBAR and FATCA are crucial for foreign-born individuals.
Filing the FBAR form is mandatory if accounts exceed $10K.
FATCA requires reporting of foreign accounts to the IRS.
Banks report account information to the IRS under FATCA.
Non-compliance can lead to significant penalties.
Amnesty programs exist for those who missed filings.
IRS is aware of foreign accounts through intergovernmental agreements.
Rectifying non-compliance is possible and essential (But don't DIY)
Chapters
00:00 Understanding FBAR and FATCA
03:16 The Importance of Compliance
07:57 Filing Requirements for U.S. Citizens Abroad
12:25 Amnesty Programs and Penalties
14:56 Rectifying Non-Compliance
Episode Links & Resources
Ep 45: What Is English For "Streamlined Filing Procedures”?
Ep 34: What Is English For "FBAR"?
Meet Your Hosts
Jane Mepham, CFP and
Manasa Nadig, EA
Jane Mepham, CFP®, and Manasa Nadig, EA, are leading experts revolutionizing cross-border financial and tax advice for green card holders, foreign-born U.S. citizens, foreign nationals on work visas, and U.S. expats.
Jane, the founder of Elgon Financial Advisors in Austin, TX, and Manasa, the founder of MN Tax & Business Services in Plymouth, MI, combine their extensive knowledge and personal experiences to provide invaluable insights on the podcast.
Explore their journeys and expertise through their blogs, LinkedIn, Twitter, and Instagram pages.
If you’d like to go beyond the podcast and explore working with us one-on-one
Download Your Freebie
Take this episode further with our exclusive companion resource. Inside, you’ll find practical tips, tools, and insights designed to help you put what you’ve learned into action right away.