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Tuesday, June 25, 2013

If a person has multiple accounts each with less than $10,000, does he have to file a FBAR?

Let us suppose, that a US person owns foreign financial accounts A, B and C with account balances of $3,000, $1,000 and $8,000, respectively. 

Would that person have to file an FBAR and if so, which accounts must be listed on the FBAR?

Source: http://www.asktaxguru.com/8124-if-person-has-multiple-accounts-each-less.html

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