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Onshore reporting for offshore accounts - anyone have issues with specific banks?
Been looking into opening an offshore account for diversification, mainly for some $BTC profits. I understand the FATCA/CRS reporting requirements, but I'm curious if anyone has encountered particular banks, even reputable ones, that seem to cause more headaches or delays with providing the necessary statements for onshore tax reporting?
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It's less about the banks causing headaches and more about the jurisdiction's reporting standards. Some offshore jurisdictions have more robust and timely reporting than others, which then impacts how smoothly your onshore reporting goes. Have you looked into the reporting consistency of the country where you're considering opening the account?