Who Must File an FBAR United States persons are required to file an FBAR if: the United States person had a financial interest in or signature authority over at…

Who Must File an FBAR

United States persons are required to file an FBAR if:

1.the United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and

2.the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

United States person includes U.S. citizens; U.S. residents; entities, including but not limited to, corporations, partnerships, or limited liability companies, created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.

Source: Report of Foreign Bank and Financial Accounts (FBAR)