§ 8.10 Foreign Bank Account Report (fbar)

• Library: Rights of Foreign Nationals (OSBar) (2020 Ed.)

§ 8.10 FOREIGN BANK ACCOUNT REPORT (FBAR)

If a U.S. person holds foreign accounts with an aggregate balance exceeding $10,000 (U.S. dollars) at any point in the year, that person must file the Treasury Department's Financial Crimes Enforcement Network (FinCEN) Form 114 (Report of Foreign Bank and Financial Accounts (FBAR)) by April 15 (with an automatic extension available to October 15) of the following year for all of his or her foreign accounts, including brokerage accounts. IRS, Report of Foreign Bank and Financial Accounts (FBAR), < www.irs.gov/businesses/small-busines...