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After IRS targeted HSBC India this year for foreign accounts, what are the next potential targets? Can IRS target Indian nationalized banks like Canara Bank etc.?

abi1974;387396After IRS targeted HSBC India this year for foreign accounts, what are the next potential targets? Can IRS target Indian nationalized banks like Canara Bank etc.?

IRS Commissioner says that its not about one bank or one country. IRS investigators will likely get a list of other Indian banks that have US accounts from people who disclose Indian accounts. From then on, they can go on to other large Indan banks, even those that have done nothing illegal (unlike HSBC did). India has tax treaty with US, so US can even ask Indian govenment to get info on all US citizens/GCs from all Indian banks. That may take years, but IRS can ask for years of data., They asked HSBC for information dating back to 2002 !!