A Florida accountant arrested on a charge of failing to tell the Internal Revenue Service about assets in an offshore account set up by UBS AG had bail set at $12 million and must also surrender his passports and boat keys.

Steven Michael Rubinstein of Boca Raton, Fla., was charged April 2 with filing a false return for the 2007 tax year because he failed to disclose the UBS account. He was the first US taxpayer criminally charged since UBS gave more than 250 customer names to the IRS as part of a Feb. 18 agreement to avoid prosecution for helping wealthy Americans evade taxes.

At a hearing yesterday in federal court in Fort Lauderdale, Fla., US Magistrate Judge Barry S. Seltzer said Rubinstein must post a $9 million surety bond, 10 percent of a $2 million bond and a $1 million corporate surety bond.