- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Am I a nonresident alien or resident alien? Also, am I supposed to file FBAR form?
I am on H1B visa and lived in US for the whole 2017. Am I a nonresident alien or resident alien? Also, am I supposed to file FBAR form?
Topics:
June 6, 2019
8:38 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
As a H-1B visa holder, if you meet the Substantial Presence Test SPT, you are very likely a resident alien for tax purposes. As a resident, you are required to file FBAR if meet the following criteria.
Per IRS, United States persons are required to file an FBAR if:
- 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
- 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.
June 6, 2019
8:38 AM