Taxpayers who have foreign accounts or interests that exceed $10,000 at any point during the year must submit a Foreign Ban Account Report (FBAR) through the Financial Crimes Enforcement Network (FinCEN) website. This notifies he U.S. Treasury Department of the accounts.
If you’re having tax problems
Tag: FBAR documents
If you have overseas banking accounts, it is important to understand and if you are required to declare these accounts, and if you are, what IRS forms you need to submit.