FBAR Filing (Report of Foreign Bank and Financial Accounts)
FBAR filing (Report of Foreign Bank and Financial Accounts)
This is to be filed if a bank account, mutual fund, trust, brokerage account or other types of foreign financial account, and the total value of all of the financial accounts combined, was $10,000 at any time during the calendar year reported.
* A United States person includes U.S. citizens; U.S. residents (green card holders); entities – including, but not limited to, corporations, partnerships, or limited liability companies, created or organized in the United States or under U.S. laws – and trusts or estates formed under the laws of the United States.
Note: For the 2018 calendar year and beyond, the due date for U.S. citizens is April 15th (April 17th in 2018), and there is an automatic extension of two months for U.S. expats, but the taxes owed should be paid by this date even with the automatic extension. An extension is available, which extends the due date to October 15th.
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