Could you please help me with understanding the aggregated value of multiple account for FBAR filling.
I have 3 account.
This year had $5100 in account A, then transferred $5000 to account B which had already $100, and later transferred this money to account C.
So after several days, I had the following balance A - $100, B - $100, C - $5000.
As I understand I did not had aggregated value more than $5100.
Is that correct?
What does the rule says about the day of the transfer. It seems that on the day of the transfer I had $5100 on account A and then $5100 on account B, although in reality I had only $5100 in value.
According to IRS regulations, as the total aggregate value of your financial account does not exceed $10,000, you are NOT required to report your financial assets, either on the Form 8938 Statement of Specified Foreign Financial Assets nor FinCE Form 114 ( FBAR).
Please see attached link for details.