Vigilance Beyond the Bank Account.
Compliance isn't just about what's in your vault. At Victor Ochoa, we navigate the murky waters of foreign assets that fall outside standard FBAR parameters. Don't let overlooked reporting trigger devastating penalties.
Beyond Standard Bank Accounts
Have you considered your digital wallet or that life insurance policy in Zurich? Our team specializes in the technicalities of global wealth reporting.
Cryptocurrency & Foreign Exchanges
Digital assets held in foreign exchanges or cold storage may carry reporting obligations that surprise even savvy investors. While current FBAR rules are evolving, FinCEN Notice 2020-2 suggests significant shifts ahead. We'll ensure your crypto trail is compliant with the latest FATCA and potential FinCEN 114 revisions.
- Private Key Jurisdiction Analysis
- Exchange Reporting Threshholds
Foreign Life Insurance
Policies with a cash value element are more than just protection; they are reportable assets. We calculate surrender values to determine filing necessity.
Mutual Funds & Pooled Investments
Foreign mutual funds are often classified as PFICs (Passive Foreign Investment Companies). This requires complex tax handling far beyond basic disclosure.
"Are you overlapping your disclosures?"
One of the most common pitfalls we see at Victor Ochoa involves the interaction between **FinCEN Form 114 (FBAR)** and **IRS Form 8938 (FATCA)**. While they may seem redundant, the reporting thresholds and types of assets required differ significantly.
For instance, a foreign partnership interest isn't reported on an FBAR, but it must appear on Form 8938 if you meet the threshold. Can you afford to guess which assets require which form? Our audit-ready reviews clear the confusion.
Download our FATCA vs FBAR Comparison GuideClient Experiences
"Why did we choose Victor Ochoa? Because they understood my crypto portfolio when my local CPA was completely lost. They turned a nightmare of spreadsheets into a clean report."
Jamin Popma
Tech Entrepreneur