- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
Depending on the balance of your foreign bank account, you may have a reporting requirement. You do not need to report cash you hold.
You potentially have two reporting requirements, The Report of Foreign Bank and Financial Accounts (FBAR) and/or Form 8938, Statement of Specified Foreign Financial Assets.
There are questions in TurboTax regarding your foreign accounts and the program will advise you if you have a reporting requirement. If you do, you convert your currency to USD before filing.
Comparison of Form 8938 and FBAR Requirements
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 26, 2020
7:24 AM