Revolut’s transition to local accounts starting with PT50 has changed IRS tax reporting requirements. During the transition year, customers used both Lithuanian and local accounts: the former must still be reported to the IRS as foreign for the relevant months, while accounts with local numbers are now treated as domestic and no longer require such disclosure. Investment products and cryptocurrencies remain linked to entities abroad and must be reported separately in IRS filings. In complex cases, the bank advises consulting IRS guidance or tax specialists. Revolut’s customer base reached 2.3 million and is expected to grow to 2.5 million this year. Material taken from https://t.me/s/lepta