I am a joint holder 2nd in foreign bank account.Primary holder is Non-US resident. Do i have to report the interest earned, even if i have to report the account in FATCA.

[gtapeshwar]

I have a savings account and a fixed deposit account where i am a joint holder with a Non-US tax payer (mother). I am the second holder of the account.

Do i need to report the interest earned from such accounts. Do i have to also report that such accounts in FATCA.

If Yes, will the interest earned be divided in half for IRS tax reporting purposes ?

[RichardK]

You are subject to FBAR reporting in you are a joint owner in a foreign account, click here for more information. If you receive income from the account you report that as interest income, however, you may be able to claim a credit for taxes paid to a foreign country. For example: if you pay foreign tax on the part of the interest earned, you may qualify to claim that foreign tax as a credit, and you also would report the interest as taxable income, click here for more information.