Forum: 0 Subject: Re: FBAR for saving Account Sender: desihelp Date: 2017-04-07 09:14:46

I am no tax professional but I do file FBAR for myself.. Basically if at any point of time in a year, if total amount in your foreign bank account was equivalent to USD 10,000 then you are required to file FBAR and list all accounts with maximum value during that year.. Its very easy and simple form, you just need to make sure you have all bank account statements handy so you can lookup figures.. Just one small caveat, if you are intending to file FBAR, make sure you report interest earned in your tax filing as income and pay taxes on it.

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