Foreign bank account reporting penalties survive death
Even in death, you cannot escape your IRS reporting requirements, including FBAR reporting and penalties. In U.S. v. Wolin, 126 AFTR 2d 2020-XXXX (DC NY, 09/28/2020), Leo Ziegel owned a Swiss bank account. He had signature authority over the account and wrote checks and made withdrawals from the account for his benefit between 1999-2008. Ziegel …