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When to File a Treasury Declaration for Your Taxes

Written by: Michael David Coffman

Reputation Level 8

International Law Tax

Posted over 3 years ago. 0 helpful votes, 0 comments

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Determining Whether You Need to File a Treasury Declaration

The IRS is part of the Treasury Department. However, the Department requires information separate from the tax forms an individual would file on their own. In particular, if a taxpayer holds at any point during a tax year more than $10,000 in funds overseas, and on a cumulative basis, that taxpayer must declare such accounts with the Department of Treasury.

Filing of Treasury Declaration

Filing of the Treasury Declaration is a simple process. The form required is a TDF 90-22.1, a form that can be found easily on the internet. You'll need to provide information about the banks involved, the amounts involved and account numbers for each entity. You should review the form instructions so you understand what information you'll need to provide. However, you will not need to provide bank statements or any other documentation with your filing.

Due Dates for the Declaration

Many taxpayers get confused about the dates returns are due. Generally, US taxpayers have until April 15 to file their returns, with an extension possible through October 15. Taxpayers resident overseas have an automatic extension until June 15 of their tax year in question. HOWEVER, the Treasury Declaration form must be filed generally no later than the end of June for the prior tax year, and the declaration is sent to a "non-IRS" address, generally in Detroit. Be sure to pay particular attention to the due dates required for filing as the requirements are different.