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Came to us in Aug 2023 and earning wedges in US since then. I hav more than 10K USD (earned in India) in a bank account in India , do I need to file FBAR ?

 
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2 Replies
Vanessa A
Expert Alumni

Came to us in Aug 2023 and earning wedges in US since then. I hav more than 10K USD (earned in India) in a bank account in India , do I need to file FBAR ?

The answer depends.  If you are a US Resident, then yes, you would need to file a FBAR.  If you are a Non Resident Alien, then it depends.  If you are not a US Citizen, then you would need to either meet the Substantial Presence Test or the Green card Test, if you do not, then it would be best for you to contact a company like Sprintax.com to get accurate information as the rules are different for Non-Resident Aliens than they are for Resident Aliens. 

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pk
Level 15
Level 15

Came to us in Aug 2023 and earning wedges in US since then. I hav more than 10K USD (earned in India) in a bank account in India , do I need to file FBAR ?

@rajeshkumar0001 , agreeing with the answer by my colleague @Vanessa A , that all depends on whether you are a Resident for Tax purposes  or you are NRA.  

To that end , when did you enter the USA?  Was this your first entry into USA during the last three years ( i.e.  for the years 2021,2022 and 2023)

 Are you married ? and if so is it to another NRA or toa US person ( citizen/GreenCard/Resident for Tax Purposes)?

Note that if  have not been in the USA for a whole Calendar year , you would have to use  itemized deduction and not standard.

NRA form 1040-NR is not supported by  TurboTax  ( SprinTax or tax professional is your best bet )

 

I will circle back once I hear from you 

 

Namaste ji

 

pk

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