pk
Level 15
Level 15

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@thanos_lord  IRS does not begin  accepting returns  till Feb 12th but since you have already filed, the return may be held awaiting IRS acceptance.   Just to note  that if the aggragate amount  of all the foreign accounts is more than  US$10,000 then you would need to file the FBAR form -- this is not handled as part of your return.  You have to go online  to www.FinCen.gov and look for form 114 and  fill this out on line -- just info about the accounts  and balance on 12/31/2020.  There is  NO tax implication of  this filing but non-reporting can be penalized  and that penalty is pretty high.  So please go and fill out that form 114 -- you may have to do it each year -- this must be filed by 04/15/2021 i.e.  by the return filing day.

 

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