According to FinCen regulations, The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met:
- All the financial accounts that the non-filing spouse is required to report are jointly owned with the filing spouse;
- The filing spouse reports the jointly owned accounts on a timely filed FBAR electronically signed; and
- The filers have completed and signed Form 114a, “Record of Authorization to Electronically File FBAR’s”
- If the above conditions are not met, both spouses are required to file separate FBARs, and each spouse must report the entire value of the jointly owned accounts. See instructions for specific items, Part III, Items 25-33.
For you and your Canadian Partner, each of you will need to file an FBAR separately each reporting the full value of the jointly owned accounts.
@duckie4
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