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I was a joint account holder with my partner (Australian resident & account) & the savings did reach over 10,000 but it was his income, do I have to file a separate form?
This was a foreign bank account in Australia
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June 1, 2019
12:36 AM
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Get your taxes done using TurboTax
If it was a joint account, you meet the requirement of a Financial Interest. If the account had a balance that exceeded $10,000 at any time during the calendar year, you have to file a This is a cumulative balance, meaning if you have 2 accounts with a combined account balance greater than $10,000 at any one time, both accounts would have to be reported.
You are required to file a FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR)
June 1, 2019
12:36 AM