Comments for The Nestmann Group, Ltd.

Comment on Keeping America Safe from…Cigars by Sonya Slysh

Sonya Slysh — Tue, 21 Feb 2012 23:08:04 +0000

I recently visited the island of Dominica – beautiful.
Regarding another post, can the US government force a third party like GoldMoney to liquidate all gold owned by US citizens and give US citizens US dollars instead? Now that gold is reportable on TD F-90-22.1 and Form 8938, the government knows its location and the name of the third party. Where can one store gold off shore which is not reportable on these forms?

Comment on A Blueprint for a Transition to a Peacetime Economy by Mark Nestmann

Mark Nestmann — Tue, 21 Feb 2012 20:14:16 +0000

You're welcome, Paul, and I appreciate the praise from such an accomplished wordsmith as yourself. Click here for a recent sample of Paul's writing.

Comment on Form 8938: Another Nail in the Coffin of Offshore Financial Privacy [Part II] by Erik S.

Erik S. — Tue, 21 Feb 2012 16:39:14 +0000

Any comment on this one? I ask only because I noticed that you responded to a later one, but not this one….

So, assuming inapplicability for years prior to 2010, and assuming that an individual, for year 2010, filed 1040 (and payed all necessary tax) but simply did not indicate a foreign account in Sched.-B and neither filed the FBAR-form, in your opinion, can he simply, and SAFELY (i.e. with little worry of IRS-repurcussions), file an amended 1040 (indicating a foreign account) and a delinquent FBAR-form, and, thereby, be in compliance?

Comment on Will Mitt Romney Tone Down the U.S. “War on Offshore?” by Sonya Slysh

Sonya Slysh — Mon, 20 Feb 2012 20:03:33 +0000

I agree with your assessment that Form 8938 is the first step of foreign exchange controls. US government could demand that all offshore precious metals (PMs) be converted to US dollars. Other than expatriating, is there anything we can do to make our PMs shielded from new “rules/laws” from US government? Off shore PMs are also under the control of the foreign storage companies, ie GoldMoney. Do foreign storage companies have to follow US laws regarding what they are storing?

Comment on A Blueprint for a Transition to a Peacetime Economy by Paul

Paul — Mon, 20 Feb 2012 18:33:21 +0000

Excellent piece, and thank you for reminding me about Eisenhower’s farewell address.

Comment on Form 8938: Another Nail in the Coffin of Offshore Financial Privacy [Part II] by Mark Nestmann

Mark Nestmann — Sun, 19 Feb 2012 21:04:48 +0000

Erik, Thank you for the compliment! The regulations specifically mention gold but not silver, but I recommend to clients they report silver PMCs as well.

Comment on Form 8938: Another Nail in the Coffin of Offshore Financial Privacy [Part II] by Erik S.

Erik S. — Sun, 19 Feb 2012 15:03:26 +0000

In your opinion, Mark, does this apply to [PMCs for] silver (as well as gold)?

By the way, you’re aces in my book, and I’ve been a Sov. Soc. member for six years!

Comment on A Blueprint for a Transition to a Peacetime Economy by P T Freeman

P T Freeman — Sat, 18 Feb 2012 15:21:05 +0000

In George Orwell’s work “1984″, you may recall that the fictional state of “Oceana” was always at war with another power, a shadowy enemy but none of the population seemed to know or remember who Oceana was fighting and why….

Comment on Form 8938: Another Nail in the Coffin of Offshore Financial Privacy [Part II] by Erik S.

Erik S. — Fri, 17 Feb 2012 22:51:45 +0000

So, assuming inapplicability for years prior to 2010, and assuming that an individual, for year 2010, filed 1040 (and payed all necessary tax) but simply did not indicate a foreign account in Sched.-B and neither filed FBAR-form, in your opinion, can he simply, and SAFELY (i.e. with little worry of IRS-repurcussions), file an amended 1040 (indicating a foreign account) and a delinquent FBAR-form, and, thereby, be in compliance?

Comment on Listen for Free to “The Second Passports and Expatriation Report” by Mark Nestmann

Mark Nestmann — Fri, 17 Feb 2012 21:50:43 +0000

Mark, some of these questions are best answered in a consultation, but the approximate cost for a family of four is around $135,000. We have prepared a list of countries where visa-free travel is possible available to clients. You can figure this on your own from the Web site of any international airline (e.g., this one). If you expatriate you need a visa to get into the USA with a Dominica passport. It's usually easy but you have to demonstrate a closer connection to another country other than the USA to get the visa. It's also relatively easy to get EU visa although they're now issued for a maximum period of one year. If you travel to Europe often the St. Kitts & Nevis passport is more practical since visits are visa free for up to 90 days.