There are several benefits of offshore online banking. Learn the pros and cons of offshore Internet banking from firsthand experience as well as critical mistakes to avoid. This book discusses what offshore banking is, why to consider it in the first place, who it is for, its advantages and disadvantages, and some important things to know and keep in mind before getting involved with offshore banking. This book also discusses the legal and regulatory compliance implications tied to offshore banking and thus provides a comprehensive guide to help you file the Foreign Bank Account Reporting (FBAR) form to stay compliant and avoid FBAR penalties and fines. You will also learn about FBAR amnesty programs, the requirements, and timelines.