@user17568826280 , are these like informal investment club like structure ? How does each member know how much he/she has put in and how much is distributed to him/her? Is there like a informal share value like structure ? I am assuming that some of the members in any one of these "club" are US persons and others are NRAs for US purposes -- yes ? or is this like a savings club i.e. the pooled amount is large enough to attract higher interest earnings from a financial institution ( a foreign financial entity )? How is this recorded on the books of the financial entity --- by one person's name or a fictitious "group" name with individual owners un-named ?
Where can I find more info on this ? What are they called in that foreign country ? I ask because while FBAR / FATCA requirements define both the reporting requirements and the types of institutions ( financial etc. ), it only deals with formal structures including trusts but does not say anything about informal structures like savings clubs or investment clubs --- the latter exists here in the US also. So any info would be helpful in my search to understand.
pk
