Sanctuaryrh
Returning Member

Open foreign account or just wire service money to US bank?

Hello!

I understand I need to report a foreign bank account, and the amount over $10,000...and any accrued interest.

Is it worth it to go to all that trouble to get an account in another country or should I just have the money for my service wired directly into my US bank account?

It's not earned income per se, it's more of a goodwill payment, or commission type.  

 

Thanks!