did you own or control a foreign bank account, trust or financial asset in 2024?

[nofilmaknojia]

Hello. I am an International F1 student with an Indian bank account. Should I answer yes to this question?

[MinhT1]

An Indian bank account is a foreign bank account. You should answer YES.

If this account has a balance of more than the equivalent of US $10,000 at any time during the year, you have to file a FBAR.

Moreover, if the total of your foreign financial assets exceeds $50,000 at year end ($100,000 for Married filing jointly) or $75,000 at any time during the year ($150,000 for MFJ), then your have to file form 8938.

Please read this IRS document for more information.