or estates

formed
under the
laws of
the United
States. Who Must File

If your aggregate value in foreign accounts is more than $10,000 at any part of the year, you need to report all the
accounts of you in foreign, even each individual account not reaches $10,000.

All residents and citizens need to

report their foreign account information to the Department of treasury by Apri 15 of every year and this is not pa
of normal tax return. For this year automatic extension of six months have been allowed, october 15th is last date
for filing.
Note: Accounts need to report is: - bank accounts, demat account, deposits like any Fixed Deposits, etc.

Reffer the below IRS link for more details

FBAR IRS link

Examples:-

Ex:1 For example, if you are a U.S. citizen living in India and you have two checking accounts and a savings account at a
India bank that together held $15,000 on one day during 2017, you must file FBAR for 2017. This is true even if only
each of them only held around $5,000.

Ex:2 Jhon owns foreign financial accounts X, Y, and Z with a maximum account values of $100, $12,000 and $3,000,
respectively. Jhon must file an FBAR because the aggregate value of the accounts is $15,100. Jhon must report all
three accounts even though two account have less then $10,000.

Ex:3 George owns foreign financial accounts A, B and C with a maximum account values of $3,000, $1,000 and $8,000,
respectively. George is required to report accounts A, B and C because the aggregate value of the accounts is more
then $10,000. It does not matter that no single account exceeded $10,000.

Ex:4 Tom owns a foreign financial account with a maximum value of $15,000 but the account does not produce income.
Tom is required to file an FBAR to report the account. The amount of income an account produces does not affect t
filing requirement.

Ex:5 John owns foreign financial accounts X, Y, and Z with maximum account values of $100, $12,000 and $3,000,
respectively. John must file an FBAR because the aggregate value of the accounts is $15,100. John must report all
three accounts even though two of them have values less then $10,000.
you need to report all the

dents and citizens need to

ery year and this is not part
, october 15th is last date

d Deposits, etc.

d a savings account at a
7. This is true even if only

$12,000 and $3,000,

00. Jhon must report all

000, $1,000 and $8,000,

e of the accounts is more

oes not produce income.

roduces does not affect the

12,000 and $3,000,

00. John must report all
 Fin CEN: Form 114 (Foreign Bank Acc

Note: If you dont know the exact value in account mention it h

Is the highest aggregate (sum of all accounts) balance in these accounts at any time during the year 2018 greater

Foreign Financial account Account 1

Ownership
Name of Bank or Financial Institution
Street Address:
City, Postal Code, Country:
Account Number
Type of Account
Account opened during the tax year
Account closed during the tax year
Income earned in the account during the tax year
Foreign currency in which account is maintained (INR, EUR, GBP, etc.)
Maximum Value of Account during 2018 in Foreign currency
Value of Account as on 31-Dec-2018 in Foreign currency
Name of Joint Owner (if not spouse)
Tax Identification Number (SSN/ITIN/PAN etc)

If you have Joint Account please provide the below information:

Joint Owner First name

Joint Owner Last name

Note: If you dont know the exact value in account mention it has value unknown
4 (Foreign Bank Account Reporting)

n account mention it has value unknown

ng the year 2018 greater than $10,000 U.S.?

Account 1 Account 2 Account 3 Account 4 Account 5

information: