Proof of life for American Social Security

[Presnock]

On 9/10/2023 at 1:33 PM, KhunLA said:

Wrong, that is for a total 'balance' amount of $10k in accounts.  Not if 10k or more has gone through the accounts, only if balance of accounts hit the 10k mark.

 

My 800+k DD for ret. visa does  not have to be reported.  Unless I leave it in there to hit that 10k mark, which I don't and make a withdrawal every 3rd or 4th month.

 

Only a few times have I needed to file FBAR, when using the lump sum amount for visa.

red the requirements for fbar filing...check your dictionary for the word "aggregate" as it means in English the total amount that passes through the account>  Just because you didn't file and haven't YET been caught, the 800K is over the 10K "aggregate" to start with.  Best to check with an expert who can understand written English.

 

[KhunLA]

3 hours ago, Presnock said:

red the requirements for fbar filing...check your dictionary for the word "aggregate" as it means in English the total amount that passes through the account>  Just because you didn't file and haven't YET been caught, the 800K is over the 10K "aggregate" to start with.  Best to check with an expert who can understand written English.

 

We'll just have to A2D, and since I've been audited by IRS since being here, I'm leaning towards me being correct.

 

Edited September 12, 2023 by KhunLA

[Pib]

4 hours ago, Presnock said:

read the requirements for fbar filing...check your dictionary for the word "aggregate" as it means in English the total amount that passes through the account>  Just because you didn't file and haven't YET been caught, the 800K is over the 10K "aggregate" to start with.  Best to check with an expert who can understand written English.

 

 

Yes....read the FBAR instructions.  At the bottom is a link to the FBAR instructions and the specific paragraph talking the aggregate $10K level.   What it means is if "at any time during the calendar year" the amount  you have in foreign acct exceeds $10K you must file a FBAR.

 

Example 1: say you transferring Bt65K/month to Thailand (approx $1,857 @Bt35/USD) that adds up to $22,284 in transfers per year....but if you are spending most of each monthly transfer and your bank balance never exceeds $10K at any point during the calendar year then a FBAR is "not" required.

 

Example 2: you maintain Bt800K (approx $22,587) in your Thai bank acct say throughout the year for retirement extension purposes, then a FBAR is required.

 

Example 3:  you maintain $10K or less in all your Thai bank accts throughout the year....not even for one milliseconds does the aggregate balance exceed $10K....a FBAR is "not" required.

 

Example 4:  on one day (or one hour/minute/second) during the calendar year you exceeded $10K balance in your Thai bank accts then a FBAR is required.

 

 

https://www.fincen.gov/sites/default/files/shared/FBAR Line Item Filing Instructions.pdf

Quote

Who Must File an FBAR. A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year. See General Definitions, to determine who is a United States person.

 

[AAArdvark]

On 9/10/2023 at 10:44 AM, Pib said:

You can have residential (physical ) and mailing addresses on-file with the SSA....that is, two addresses on-file.

 

The residential address is where you physically live and determines whether/how often you get a proof of life form or not.   The mailing address is purely for receiving mail and does not affect when/how often you get the proof of life form. 

 

So, I expect if you would check with SSA that they really have your U.S. address on-file as your residential address....and since it's a U.S. address you are not getting a proof of life form......but once you turn 90 you are suppose to get the form regardless of where you live.  Basically, they have your residential and mailing address as being the same and it a U.S. address. 

 

Earlier this week I helped a person apply online for their SS pension.  At the beginning of the process they ask for your residential and mailing addresses.   They first ask for your mailing address....if you select you do not reside at that mailing address then you are asked to enter your residential address also....if you say you do reside at your mailing address then that goes on-file as your residential address.  Now the person I was helping only has one address which is his residential address, therefore, it's also his mailing address

 

 

And when the wife and I applied for our SS pension a half dozen or so years ago via telephone interview with the Manila FBU SSA Office we were asked for both our residential and mailing address.   Although the mailing address was a U.S. address at the time we still got the once a year proof of life form since our residential address was a Thailand address.   Later on when we stopped using that U.S. address mailing we notified Manila of our new mailing address which is our Thailand address that is now both our residential and mailing addresses.

 

Thailand is on the SSA list of many countries that receive a proof of life form annually....other foreign countries are on a biennially schedule.

 

Summary: I expect if you check with SSA they really have your U.S. mailing address also on-file as your residential address.  Your residential address on-file with the SSA  determines if/how often you get a proof of life form.

 

I know this is old but how does someone change to two addresses?

I ask because I use a US address only. SSA is  now implementing a new online access scheme where the last step is to send a letter to the address with a verification code to link. 

[Pib]

6 minutes ago, AAArdvark said:

I know this is old but how does someone change to two addresses?

I ask because I use a US address only. SSA is  now implementing a new online access scheme where the last step is to send a letter to the address with a verification code to link. 

Contact Manila SSA and tell them what you want to do. 

Note:  It appears over the last month or so Manila SSA has deleted from their website their "inquiry form" method they have used for years. Or, if that inquiry form weblink is still there it like "if it was a snake it would have bit me" because I no longer see it from looking a few minutes ago.  By inquiry form I mean it was an online form with pull down menus where you selected why you were contacting them, what personal info you needed to enter to identity yourself such as name, address, SSN, etc., along with a Remarks block where you could state exactly what your issue is....press Submit and that was transmitted to Manila SSA for review/action/response.    But I dont see that anymore....it appears they have went back to preferring an email like it use to be a half dozen or so years ago.  See below Manila SSA website on how to contact them.  And don't waste you time trying to call them as you would have to be extremely lucky to get a human on the line during their limited call days/hours....use email.  Be sure to clearly identify yourself or you may not get an answer or they will come back with a request for more identification.     

https://ph.usembassy.gov/services/social-security/#small-call-out-carousel

 

OR, call the SSA at their main 1800 number since you still only have a US address onfile with SSA.

https://www.ssa.gov/agency/contact/phone.html

[JustThisOnePostOnly]

The first FBAR can be daunting but thereafter it's actually really easy.

 

They're PDF files.  So you open last year's and put it in a window on the left and then work on this year's in the window on the right.

 

Then you can really quickly ctrl-c alt-tab ctrl-v your way through it.

 

800k in the bank means I'm filing.  The penalties are something like out of Caligula.  And it's literally only five minutes of time to do.