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US Department Of Justice still active in Switzerland

US Department Of Justice still active in Switzerland

Monday 30th July 2018

US Department Of Justice still active in Switzerland

The Offshore Voluntary Disclosure Program (OVDP) for US taxpayers is closing on 28 September 2018, but this has not stopped the Department of Justice pursuit of banks it feels have assisted US taxpayers non-disclosure of assets overseas. Recently, the Swiss private bank NPB Neue Privat Bank AG have signed a non-prosecution agreement with the DOJ and will pay a penalty of $5 million, according to a 18 July news release. The report details that NPB consciously decided to accept US account holders even after their Swiss counterparts were rejecting US persons. Find out more about the OVDP program and the remaining options for non-compliant US taxpayers in our latest issue of Reflections magazine.