@Helen123
1. I assume oversea electricity bill accounts shouldnt be reported into Fbar /8938, right?
FBAR and FAYTCA requires ONLY the reporting of Foreign Bank accounts ( and the amounts therein ) and other Specified Assets ( generally liquid or semi liquid )
2. Fbar/8938 are only needed for US resident alien but not for non-US resident alien, right?
FBAR and FATCA rules apply ONLY to US persons ( citizen / GreenCard / Resident for tax purposes )
3. For my friend, his baby is an American. The couples are not the American and they do not live in the US. Does the baby need to report US tax before university graduation ? What is the minimum requirement for the baby to report tax?
A US person ( as defined above ) generally would not be required to file a return on world income unless the person is no-longer a dependent of the parents and makes more than US$4400 ( I think -- it is ion that neighborhood).
And NO , the questions are NOT STUPID at all.
Is there more I can do for you?
pk
