Each year by June 30th, US taxpayers are obliged to report all foreign financial accounts in which they have either a beneficial interest or signature authority, so long as the aggregate value of all the accounts exceeds $10,000 at any time during the calendar year. The form is known as the FBAR.
I'm curious if Bitcoins held in a wallet on my PC might somehow be considered a "foreign financial account".
How about bitcoins held at an exchange in Japan (Mt. Gox) or Chile (TradeHill), perhaps?
Or in an anonymous eWallet accessible only through Tor and whose location is unknown?
The only thing I've seen regarding this is:
I am not a tax lawyer/CPA/etc, so don't take any of this as advice. But here is my opinion:
Bitcoin is not associated with any foreign country, so I don't believe FBAR regulations will apply.