Foreign bank account opening and Form 11

[Henning G]

Hello,

As a tax resident in Ireland, I just need a confirmation please. In 2023 I opened a DeGiro account (Germany registered) and a Schwab account (U.S. registered)
According to this link from the Revenue https://www.revenue.ie/en/property/foreign-property/opening-a-foreign-bank-account.aspx
I don't have to declare the opening of these accounts since Germany is a member of the CRS standard signataries, and Shwab is FATCA
compliant being it a U.S. registered financial institution

Is this right ?

Thanks
Henning

 

[jpd]

Correct, as these institutions will report to Revenue and account opened and any interest earned

But there is nothing to be gained or lost by reporting it yourself

 

[Henning G]

Thanks JPD