BERN, Switzerland -- Swiss bank UBS said Tuesday it will inform American clients whether their bank accounts are among the 4,450 that will be revealed to the U.S. Justice Department in a tax evasion investigation.

UBS said it would comply with Monday's ruling by a Swiss court in favor of two U.S. clients seeking clarification on whether their account details would be handed over to Washington. The information transfer is part of an agreement last month that ended a long dispute between the two countries over wealthy Americans hiding money at the bank.

Switzerland and UBS have so far refused to name the individuals in public. U.S. authorities, meanwhile, had hoped that the identities of the individuals on the list would be kept secret longer so that more Americans with undeclared assets abroad might come forward under an amnesty program.

UBS spokesman Serge Steiner said the bank has taken note of the decision by the court in the southern city of Lugano and would honor it.

``UBS is currently examining which client relationships fulfill the government's criteria of 'tax fraud or the like,' '' Steiner said in a statement.

He said this process would take ``some months,'' but UBS will tell clients if they are affected once a decision is reached.

UBS has already informed the first 500 clients whose information has been sought by U.S. authorities.

The U.S.-Swiss accord in August instructed the bank to inform clients if they are included in U.S. Justice Department requests for account details. The new ruling goes farther by compelling UBS to answer clients wishing to know if they will be included in future U.S. requests.

The IRS said it would extend its deadline for an amnesty program that has been flooded with applications from people who hid assets overseas. The program promises no jail time and reduced penalties for tax dodgers who come forward.

Join the discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. In order to post comments, you must be a registered user of MiamiHerald.com. Your username will show along with the comments you post. Thank you for taking the time to offer your thoughts.

     Showing: Oldest first Newest first Most-recommended first Least-recommended first

@Nyx.AuthorDisplayName@ wrote on @Nyx.PostedAtTime@:

@Nyx.repliedToText@

@Nyx.replyAnswerText@

Reply to this Comment @Nyx.Recommender@ @Nyx.AbuseReporter@