ChristinaS
Expert Alumni

Deductions & credits

One means you own the bank account- its your money.

Signature authority means its not your money (no financial interest), but you have access to the account and can control funds to some extent. This might be most common in employee situations. Signature authority (and no ownership) is not that common.

If all of your foreign accounts' maximums did not exceed $10k, you don't need to file a special form.

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