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Will Coinbase account be required to report on FBAR form? Believe it is a US based exchange for Crpto trading ?

 
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2 Replies
KarenJ
Intuit Alumni

Will Coinbase account be required to report on FBAR form? Believe it is a US based exchange for Crpto trading ?

With Coinbase, I understand you have an account number.  If the location of the account is outside the US, you may have an FBAR or  Form 8938 filing requirement.  However, the IRS has no new rulings on this. If you think you may have a foreign financial account reporting requirement, I would go ahead and report the account(s).

https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

Will Coinbase account be required to report on FBAR form? Believe it is a US based exchange for Crpto trading ?

How to confirm the location of the account in this case? Coinbase looks like to be headquartered in CA.
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