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FBAR filing for loan repayments
I'm a citizen of India and working in US on F1 visa and I've been in US for 2.5 years. I have two bank accounts in India, I usually transfer amounts in range of $2-3K every month to Account1 (savings account) in India and then transfer the same amount to Account2 (student loan account) in India to repay my student loans. I've transferred more than $10K in total in an year, but the cumulative amount never went above $10K at any time (I used to immediately use the $2-3K I'm sending every month to repay my loan). Will I still be required to file FBAR?
‎June 4, 2019
8:13 PM