If I have a bank account in another country and I am making over $2000 of interest a year.

Question

Do I have to report that money I made when I make my taxes in the US. I am asking this question because foreign banks pay more interest than US banks. Plus they don't tax your earnings.

Answer 1

I think it owuld depend on the country and bank. If they send yu a satement of interest then yes you would. But I think in some countries, hey wouldn't care, that's why people put their money in offshore acconts to begin with!