The phrase "a foreign account" is correct and usable in written English.
It can be used when referring to a bank account or financial account that is held in a country different from the one in which the account holder resides.
Example: "To avoid high transaction fees, I decided to open a foreign account in Europe."
Alternatives: "an overseas account" or "an international account".
Mr Cahuzac has not been charged and has denied any wrongdoing, telling parliament: "I have never had a foreign account".
The disclosure is also required of United States residents with signatory power over or a financial interest in at least 50percentt of a foreign account.
Our third golden rule is that, if transferring a sizeable sum into a foreign account, first send a small sum and check it has been received, as much to ensure you have sent it to the right account as anything else.
Failing to disclose a foreign account is a felony.
Investor-Specific Analysis Knowledge can be a strategic advantage in evaluating a foreign account owner's defense options.
The IRS may ask about the lack of prior FBARs and of prior tax returns disclosing a foreign account.
The S.E.C. and the Public Company Accounting Oversight Board fined the affiliate, PW India, $7.5 million in what was described as the largest American penalty ever against a foreign accounting firm.
Investment arms of the fund, China Investment Corporation, are being asked to include a clause when they register with SEBI, India's stock market regulator, pledging that total investments in any Indian company by Chinese-owned wealth enterprises will not exceed 10 percent, the paper says, citing an unnamed executive from a foreign accounting firm.
In some cases where a foreign accounting firm has resisted the SEC's request for papers, the SEC has launched proceedings against its American affiliate.That could spell trouble for Grant Thornton, long-time auditor of Parmalat and some of the subsidiaries directly implicated in the fraud.
Not all foreign account problems are the same.
With investigators and journalists closing in on the truth, he admitted hiding €600,000 (£509,000) from the taxman in a secret foreign account for 20 years.
