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GTN Mobility Tax Blog

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    Author Tracy Novotny

     
    Tracy is a Director and has been with GTN since 2013. She has over 15 years of experience in global mobility and is recognized by her clients for her focus on customer experience and an ability to explain complex tax matters in an understandable and actionable manner. She is a frequent writer and speaker on mobility tax topics, including cross-border and domestic payroll, delinquent filings, and business travelers. +1.763.252.0320 | tnovotny@gtn.com
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    Foreign Bank and Financial Account Reporting Requirements for Mobile and Remote Employees

    With today’s ability to work from anywhere, understanding and staying on top of the reporting and ongoing US filing requirements can be difficult. However, for employees working outside of their typical Home location, not only understanding these requirements but being diligent in adhering to them is especially important. Taxpayers are often surprised by the tax filing obligations and are often not prepared to handle the detailed reporting requirements. For US citizens, permanent residents working outside of the US, and citizens of other countries who become tax residents of the US, there is a specific annual filing requirement related to any non-US financial accounts held.