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posted Jun 6, 2019 1:30:54 AM

Are foreign cryptocurrency wallets consider foreign financial accounts for FBAR reporting?

If cryptocurrency wallets are considered foreign financial accounts for FBAR reporting. What information should be included in the Financial Institution Name (ie. Neo Wallet) and account number (public Neo address)?

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1 Replies
Intuit Alumni
Jun 6, 2019 1:30:57 AM

Yes, I would file the FBAR if you know your provider is overseas.  You would report the account number and name and maximum balance of the account.  You also may with to file Form 8938 if it applies.

Some additional information for you:

https://www.goldinglawyers.com/fbar-bitcoin-2017-2018-important-cryptocurrency-reporting-tips/#Trading_Account