OffShore Volutary Disclosure Initiative question

swarchh123 · Post by **swarchh123** » Thu Jul 14, 2011 11:05 am

Hi All

I have some 5-6 bank accounts in India. Do I have to report the highest amount that is present in each individual account for each and every year, or is it the highest amount from all the accounts from 2003-2010?

Also, anyone who have already filed the OVDI please post your experience and procedure.

Thanks in advance

ric123 · Post by **ric123** » Thu Jul 14, 2011 4:17 pm

Highest total amount from 2003-2010. Wats your highest balance?

r2itemp · Post by **r2itemp** » Thu Jul 14, 2011 10:07 pm

For each year find out the highest total amount (from all the banks). Then take the highest of all the years.
For example, for year 2003, your max balance in bank A is 10,000 and bank B is 15,000, then your total max balance for year 2003 would be 25,000.

swarchh123;398779Hi All

I have some 5-6 bank accounts in India. Do I have to report the highest amount that is present in each individual account for each and every year, or is it the highest amount from all the accounts from 2003-2010?

Also, anyone who have already filed the OVDI please post your experience and procedure.

Thanks in advance