Glossary · Reporting
FBAR
The FBAR is an annual US report of foreign financial accounts, required when the combined balance of all your non-US accounts exceeds $10,000 at any point in the year. It is filed with FinCEN, separately from your tax return.
Report of Foreign Bank and Financial Accounts (FinCEN Form 114)
In more detail
A US person — citizen, green card holder, or resident — must file an FBAR (FinCEN Form 114) when their foreign accounts together exceed $10,000 at any moment during the calendar year. It is an aggregate test, not per-account, and includes accounts you have signature authority over even if you do not own them. The FBAR is filed electronically with the Financial Crimes Enforcement Network through the BSA E-Filing System, not with the IRS, and is due 15 April with an automatic extension to 15 October.
Does FBAR apply to your situation?
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