What is considered 'value' in foreign accounts? I had 5K in a foreign account, but with 6X margin, so I could hold stocks that were worth more than 10K?

dannykim32 · ‎June 6, 2019

Do I need to file the FBAR form in this case?

KarenJ · ‎June 6, 2019

Yes, you need to file the FBAR

If you have any questions about how the Treasury Department would view this account, I would definitely include this foreign account on your FBAR (FinCEN Report 114). If in doubt, include it.

The online link to file is attached. FBAR Filing

View solution in original post

KarenJ · ‎June 6, 2019

Yes, you need to file the FBAR

If you have any questions about how the Treasury Department would view this account, I would definitely include this foreign account on your FBAR (FinCEN Report 114). If in doubt, include it.

The online link to file is attached. FBAR Filing

Expert does your taxes

Do it yourself

Resources

Support

What is considered 'value' in foreign accounts? I had 5K in a foreign account, but with 6X margin, so I could hold stocks that were worth more than 10K?