A “Sample Letter To Obtain Information For Offshore Voluntary Disclosure” is a request. It asks a foreign financial institution for your account details. You need this letter when participating in an offshore voluntary disclosure program. This program helps you report previously undisclosed foreign assets to tax authorities.
Need to write such a letter? You’re in the right place. We’ll share templates. These samples will make writing your letter much easier.
Consider this your shortcut. Use our examples as a guide. Craft a letter that gets you the information you need. Let’s dive in.
Sample Letter To Obtain Information For Offshore Voluntary Disclosure
## Sample Letter To Obtain Information For Offshore Voluntary Disclosure
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
Internal Revenue Service
Offshore Voluntary Disclosure Program
[Address if known, otherwise omit]
**Subject: Request for Information Regarding Offshore Voluntary Disclosure**
Dear Sir or Madam,
I am writing to request information about the Internal Revenue Service’s (IRS) Offshore Voluntary Disclosure Program (OVDP). I am considering participating in the program to disclose previously unreported offshore assets and income.
Specifically, I would appreciate receiving information on the following:
* Current eligibility requirements for the OVDP.
* The steps involved in applying to the OVDP.
* The potential penalties and interest associated with non-compliance and participation in the OVDP.
* The documentation required to participate in the OVDP.
* Any deadlines for applying to the OVDP.
* Relevant IRS publications or guidance materials related to offshore voluntary disclosure.
I understand that the OVDP is a complex process and that I may need to consult with a qualified tax professional. However, I would like to gather as much information as possible before making a decision.
Thank you for your time and consideration. I look forward to hearing from you soon.
Sincerely,
[Your Signature]
[Your Typed Name]
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How to Write a Letter To Obtain Information For Offshore Voluntary Disclosure
1. Subject Line: Capture Attention Immediately
The subject line is your initial gambit. It should be concise, yet explicitly state the purpose of your correspondence. Don’t beat around the bush; clarity is paramount here.
- Example: Request for Information Regarding Offshore Voluntary Disclosure
- Alternative: Inquiry for OVD Program Details – [Your Name]
2. Salutation: Establish a Professional Tone
A proper salutation sets the stage for a respectful discourse. Avoid being overly familiar; maintain a formal demeanor.
- Preferred: Dear Sir/Madam,
- Acceptable Alternative (if you know the recipient’s name): Dear Mr./Ms. [Last Name],
- Avoid: “Hey” or overly casual greetings.
3. Introduction: State Your Purpose Unequivocally
The introductory paragraph should immediately articulate your reason for writing. Leave no room for ambiguity; be forthright about your intention to participate in the Offshore Voluntary Disclosure program.
- Clearly state your intention to voluntarily disclose offshore assets.
- Briefly mention the need for comprehensive information to facilitate accurate reporting.
- Example: “I am writing to request information pertaining to the Offshore Voluntary Disclosure (OVD) program. I intend to voluntarily disclose previously unreported offshore assets and require detailed guidance to ensure full compliance.”
4. Specific Information Request: Precision is Key
This section should meticulously list the specific data and documents you require. Be granular in your requests to avoid iterative back-and-forth exchanges. The more precise you are, the more helpful the response will be.
- Request information on eligibility criteria for the OVD program.
- Inquire about the specific forms required for disclosure.
- Ask for details regarding any applicable penalties or interest charges.
- Request information on the documentation needed to substantiate your disclosures.
- Example: “Specifically, I require information on the eligibility requirements, a comprehensive list of required forms (e.g., Form 14653), details regarding potential penalties and interest calculations, and guidance on acceptable documentation to support the disclosure of asset valuations and income sources.”
5. Confidentiality and Data Security: Express Your Concerns
Subtly express your apprehension regarding the security of your personal data. A brief inquiry about their data protection protocols can subtly underscore its importance.
- Inquire about the measures they have in place to safeguard sensitive information.
- Mention your concern for maintaining privacy throughout the disclosure process.
- Example: “I would also appreciate information regarding the safeguards in place to protect the confidentiality and security of the information I will be providing.”
6. Contact Information and Preferred Mode of Communication
Provide clear contact details and specify your preferred method of receiving the requested information. This streamlines the response process and minimizes potential delays.
- Include your full name, address, phone number, and email address.
- Specify whether you prefer to receive information via email or physical mail.
- Example: “You can reach me at [Your Phone Number] or [Your Email Address]. I would prefer to receive the requested information via email.”
7. Closing: Express Gratitude and Anticipate a Prompt Reply
End your letter with a courteous closing, expressing your gratitude for their time and anticipating a timely response. A polite and appreciative tone leaves a favorable final impression.
- Express your gratitude for their time and assistance.
- Indicate your expectation of a prompt and comprehensive response.
- Formal Closing Options: “Sincerely,” “Respectfully,” or “Yours faithfully,” followed by your full name and signature (if sending a physical letter).
- Example: “Thank you for your time and consideration. I anticipate receiving the requested information at your earliest convenience. Sincerely, [Your Full Name]”
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Frequently Asked Questions: Sample Letter to Obtain Information for Offshore Voluntary Disclosure
This section addresses common inquiries regarding sample letters used to gather necessary information for participating in the Offshore Voluntary Disclosure Program (OVDP) or Streamlined Filing Compliance Procedures.
Understanding the proper approach to requesting this information is crucial for accurate and complete disclosures.
1. What information should I request in a sample letter for OVDP?
The letter should request all records pertaining to your offshore accounts, including account statements, transaction histories, deposit slips, wire transfer confirmations, and any correspondence related to the account’s establishment and maintenance.
2. Who should I send the information request letter to?
The letter should be sent to the financial institution or entity holding your offshore accounts or assets. Ensure you have the correct contact information for the records department or compliance officer.
3. What if the foreign financial institution requires a specific form or legal request?
Consult with your legal counsel or tax advisor. They can help you determine the specific requirements of the foreign institution and draft a compliant request, potentially involving a subpoena or other formal legal process.
4. Should I specify a timeframe for providing the requested information?
Yes, the letter should clearly state a reasonable timeframe for the institution to respond, typically 30 to 60 days. Note that some institutions may take longer depending on the complexity of the request and internal procedures.
5. What should I do if the foreign financial institution refuses to provide the information?
Consult with your legal counsel or tax advisor immediately. They can explore options such as contacting the IRS, pursuing legal action in the foreign jurisdiction, or adjusting your disclosure strategy based on the available information.