Forum: 0 Subject: Re: Indian money declare Sender: E Date: 2018-02-26 16:28:07

when you say declare, do you mean declare in your 1040 or FinCen Form? In 1040 case, you may need to amend your return but I believe there is something called gift.. so some of it may fall under gift and you pay tax on remaining.. If its just declaring in FinCen form, you can submit amendment form if you already submitted FinCen for that year and select option as unaware.. if including that amount to your foreign balance still doesn't qualify for FinCen Declaration, then you don't need to bother about FinCen. I assume you would want to do everything clean then better go with CPA.. may cost you couple hundred dollars but peace of mind.

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