Swiss Life Zurich Insurance Penalized by IRS for Hiding Client Assets

Swiss Life Zurich Insurance Penalized by IRS for Hiding Client Assets (Golding & Golding) Swiss Life Insurer (Zurich) Penalized by IRS for Hiding Client Assets It is safe to say that as a result of FATCA, renewed interest in FBAR and the U.S. forming various International Tax and Reporting enforcement groups, that Switzerland’s ability to act as a safe offshore tax haven to hide U.S. client assets has long passed. Swiss Life Zurich Insurance In years past, Switzerland was a great place to hide assets. In recent years, the U.S. Government has secured settlement agreements, deferred prosecution agreements, and criminal convictions against many involved with Switzerland foreign banks and financial institutions. Swiss Life Zurich Insurance Penalized by IRS for Hiding Client Assets Add Zurich Life Insurance Co. Ltd. to the list. As provided by Amy Lee Rosen at Law 360: Zurich Life Insurance Co. Ltd. agreed Thursday to pay the U.S. a penalty of over $5.1 million to avoid…

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