So I am interested in some foreign investments in foreign markets. I would also like to have a small contingent of money stored in an offshore account that is "off the grid" and sort of tucked away. I would want this contingent of money in a currency other than dollars (yet to be determined) in case of some sort of financial crisis with the dollar.
I have a few questions: First, I am assuming I would have to report the investments to the IRS to be in compliance. That is assumed. I want everything legal. Im not interested in a $600,000 tax for a few thousand stored overseas.
Heres my next question: If I were to have a separate savings overseas, with cash just sitting in that account, would I have to report it to the IRS? By all means I have NO INTENTION of doing anything legally, but at the same time I am skeptical of government and what I have seen the IRS do with peoples bank accounts. I want something safe where they can't touch. I know about the option of having something hard currency like gold tucked away. Thats already in the works. Im looking at this option, so please only give answers that are relevant to my question, and PM me other ideas or suggestions.
Again, I don't want to do anything ILLEGAL. I FULLY INTEND TO COMPLY WITH US LAWS. Im not trying to have "offshore non taxed accounts". This has nothing to do with tax savings, but financial security for a domestic crisis or dollar failure.