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A comment on Bitcoin accidentally solved my startup's international banking problem. Parent comment

Re:Bitcoin accidentally solved my startup's international ba... by conformal on Monday October 07, 2013 @08:48PM (#6512286)
just to elaborate here: the OP will likely need to file subpart F income for his UK-based controlled foreign corporation (CFC). this means that any income he generates from the UK entity passes through to his US taxes.

additionally, he will need to file a TD 90-22.1 with the department of treasury by june 30th of the year after the account has more than USD 50K in it.

tax avoidance is a complex beast and simply incorporating a business in another jurisdiction does not in any way exempt you from US tax liability.

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Re:Bitcoin accidentally solved my startup's international ba... by mjn on Monday October 07, 2013 @09:35PM (#6512464)
> additionally, he will need to file a TD 90-22.1 with the department of treasury by june 30th of the year after the account has more than USD 50K in it.

Nitpick, but the TD 90-22.1 threshold ("FBAR") is $10,000. As an expat with a foreign bank account, I only really know about it because TurboTax flagged it, which was pretty fortunate.

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