mandmeier
Returning Member

Deductions & credits

Thanks!

 

Just to clarify "United States person that has a financial interest in or signature authority over foreign financial accounts "

 

That foreign account is currently under the control of my relative's estate agent. Does this count as me "having a financial interest" in this account? I do not currently own any bank accounts myself outside the US, nor do I plan to open one to transfer the inheritance there. According to the current plan it would go directly into my US brokerage account.

 

Do I still have to file an FBAR in this case?

 

Also, is the FBAR just for information or will any part of my inheritance be taxed in any way?