Documents for FBAR and OVDI from Indian banks

lokesh122 · Post by **lokesh122** » Thu Sep 01, 2011 10:19 pm

Guys,
What financial documents are needed from Inidan banks to file for FBAR and OVDI? What is the best way to get these documents? Can we get these documents using online accounts? Do we have to go to the same branch where we made the FDs or is it centralized in India? Does it have to be in any standard format?

I just came to know about OVDI and thinking of how/where to collect these documents. Please share your experience and knowledge.

-Thanks
-Lokesh

trader · Post by **trader** » Wed Sep 14, 2011 6:07 am

Lokesh,
Have you filed for 90 day extension. I filed mine on 8th september. Just want to know if anyone else has done the extension and what we are supposed to do now. I have mutual funds in India and getting crazy with the calculations

lokesh122 · Post by **lokesh122** » Thu Sep 15, 2011 8:28 pm

Yes I did file for extension. I am calling Indian banks to get the statements to file for amendments.

trader · Post by **trader** » Fri Sep 16, 2011 6:12 am

have you gotten any response yet? Do you know if we are supposed to wait for something before we send in the completed package?

samu · Post by **samu** » Tue Sep 20, 2011 5:58 am

I applied for OVDI extension on Sept 1st. Havent got any response so far. Hoping they will mail an acknowledgement.

I filed my letter to OVDI-CI in July and my attorney did not let me know until end of august that they need spouse info. I added that and mailed end of august. Havent heard anything so far.

Anyone can provide a timeline on how long their OVDI-CI letter was responded within? (including mailing time)

samu · Post by **samu** » Tue Sep 20, 2011 8:59 am

rsharma, that is very true. Thanks !

I prepared the OVDI letter and all he did was edit 2 or 3 sentences. You are right. I dont need an attorney. I have realized the hard way. A CPA is much better for OVDI to interpret the rules.

I will change the atty to a CPA. I'm just waiting for the OVDI clearance. Its3 weeks now. Wonder if its really taking so long for others. (I applied last week of August)

zyzy · Post by **zyzy** » Tue Sep 20, 2011 11:26 pm

^If it helps, I sent out pre-clearance fax, OVDI Letter and Extension Request - all between Sep 2 and Sep 6.

Haven't got a response on anything so far.

samu · Post by **samu** » Wed Sep 21, 2011 12:13 am

What date did you mail (not the fax) the Letter to CI?

Thanks