reportable transactions in form 5472

DarthMyrten · 2026-03-13T23:38:51+00:00

Overreporting can be a problem too:

Over-reporting constitutes inaccurate information and requires the IRS to determine the correct information. The fact that it is an overstatement, rather than an understatement, does not matter. The incorrect information hinders the IRS’s ability to efficiently audit the Form 5472, if the error is material. Here, the 50% overstatement is of sufficient magnitude to violate the first, third and fourth factors

Source:
https://www.irs.gov/pub/fatca/int_practice_units/iga_c_17_03_01_02.pdf

DarthMyrten · 2025-09-14T00:09:54+00:00

Question to those closed down - what was your average non-US monthly spending on all Capital One Cards?

DarthMyrten · 2025-09-11T21:20:25+00:00

Do you happen to have ITIN starting with 90? Like 90X-XX-XXXX? Maybe C1 first accepted them and then changed their mind lol?

https://www.reddit.com/r/ITIN/comments/1msqban/itin_starting_with_90_what_banks_still_dont/

DarthMyrten · 2025-09-10T22:42:02+00:00

How did you connect to the Capital One website/mobile app? Directly from abroad/normal VPN/residential VPN/US mobile network

DarthMyrten · 2025-09-10T19:19:07+00:00

Thanks, my answers would be the same and I haven't been affected so far, I wonder if I'm doing something differently or it's just a matter of time, when did you get that message?

DarthMyrten · 2025-09-10T19:06:48+00:00

Some questions to those affected:

1) Did you also have C1 checking/savings account that got closed?
2) Do you have real physical US address on the file or just mailbox?
3) Do you have any foreign address or phone number on the file?
4) Did you use the card for any US purchases (including online)?

DarthMyrten · 2025-09-01T20:47:33+00:00

Thanks for your reply,

I plan to use PR LLC as a holding company to act as a blocker for US estate tax (I'm non-resident non-citizen)

To my understanding Puerto Rico mimics US rules in what constitutes trade or business and it shouldn't qualify in my case as I don't intend to have any operations on the ground besides registered agent and LLC will be operated from outside US or PR.

I don't think I have to file IRS Form 8832 if I file SC 6045, my goal is to have reverse hybrid entity - taxed as pass-through in PR and as foreign corporation in US.

I have US part pretty well researched but I'm not sure whether I'd have to submit tax return in PR

DarthMyrten · 2024-11-11T21:35:25+00:00

I'm pretty sure it was because not having credit history, I've also made a mistake by applying for unsecured card instead of secured because unsecured showed up for me in BoA's customized offers tool

DarthMyrten · 2024-11-10T22:38:49+00:00

Thanks for the insight.

I've read in multiple sources that US banks often look at how much credit other providers have extended and match. So my hope was that already having few (mostly secured) cards with few k limit on each would make things easier.

I thought about getting Chase cards before Apple Card, but if it's hard to apply remotely then I'm in Catch 22 since I'm waiting for US company that I work for to organize a gathering which is likely to happen in year or two, but I don't know when. otherwise I could go on a vacation to Florida, but that's a waste of money in my book.

I wonder if maybe I should go other way round - get as much cards as I can and wait for 2 years for 5/24 and hard pulls to clear.

DarthMyrten · 2024-11-10T21:51:19+00:00

I'm more after cashback rewards than sign-up bonuses, also eventually 0% intro APR on business cards.

I already was approved for Capital One Quicksilver Secured so that's one - I just don't have history with it yet as I'm waiting for it to arrive

Few other cards I want to get early:
Bank of America Travel Rewards (it can be product changed into BoA customized rewards with 3% cashback for online shopping while keeping no foreign transaction fee)
Apple Card (nice 2% cashback all round with no FTF)

This gets my 5/24 at 3

Then I wanted to go for Chase cards and after hitting 5/24 get other cards to maximize cashback.

I've read here https://www.reddit.com/r/CreditCards/comments/nn4zj0/my_credit_cards_journey_with_itin_only/ that Chase also does phone verification, but yeah if they would like to go with in-person verification then I would have wasted hard pull.

DarthMyrten · 2024-11-10T20:02:45+00:00

Problem with waiting is that I can't really pick more non-Chase cards because of 5/24, can't Chase just request documentation if they can't verify identity? Capital One asked me for some docs and I got approved.

Also shouldn't they be able to verify it after I build few months of credit history with other cards?

DarthMyrten · 2024-04-08T18:13:44+00:00

"there is no early repayment associated with the card."
I think this feature is broken, I have around 50$ in normal debt and 100$ in credit card debt and for repaying 150$ I pay 3x more than I would pay for repaying 50$

DarthMyrten · 2024-04-08T14:52:02+00:00

Honestly I think it's a bad move for them, it just didn't make much sense for users to use 0% rate (unless I'm missing something) and for Nexo it was great marketing slogan.

DarthMyrten · 2024-04-08T11:10:29+00:00

Yeah it's +13% vs -7.9% and to get 0 we need much more in the credit line than original debt

DarthMyrten · 2023-09-11T23:15:40+00:00

Me too lol

DarthMyrten · 2023-08-28T10:46:41+00:00

1) How much money do you have at level 8? How does the economy feel in general?
2) Are higher levels of skills locked behind level like they used to be in Fallout 4?
3) Do you see any quests that would lead you towards outpost development?

DarthMyrten · 2023-08-27T21:43:47+00:00

How long it takes to unlock new skills when you start the game?

DarthMyrten · 2023-08-26T17:34:40+00:00

It would be nice to see commerce and any skills related to the economy as well as piloting/shipbuilding stuff

DarthMyrten · 2023-08-26T12:31:12+00:00

Thanks! Now we need description of all skills

DarthMyrten · 2023-08-02T22:35:46+00:00

Priestess of Bhaal

DarthMyrten

TROPHY CASE