If I have less that $3000. in a foreign account do I need to file an FBAR?

[pk · Accepted solution]

@OH7 ,

(a) Please change your sign-in credentials -- it is too close an e-mail address and this board is open to all and sundry -- including bad actors;

(b) FBAR filing is generally required for owners and signatories ( i.e. persons who do not own and/or operate the account but have signature authority for succession purposes )  when the account value in US$ is equal or over the trigger value ( currently this US$10,000 at anytime during the year  --- see the following page ) :

Report of Foreign Bank and Financial Accounts (FBAR) | Internal Revenue Service (irs.gov)

    Note that while this filing of form 114 ( FinCen.gov )  has NO tax implications, non-filing when required can attract onerous  fines., 

Does this answur question?

Is there more I can do for you ?

[OH7]

Thank you, that's very helpful information!  I appreciate your time.