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FBAR & tax implications
Hello all,
I have established a LLC in Delaware and I hold the business bank account in a different jurisdiction outside the US. The company does not conduct any businesses within the US. I had been informed recently that I need to file each year a FBAR form , if the business bank account exceeds the amount of 10,000 USD at any time. Which would be the tax implications when submitting the FBAR form? Will the company's funds be subjected to any taxes and if so, which would be the rate ? Thak you in advance |
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