I took up residency in the USA May of 2017. I just filed my taxes with Intuit, and I had reportable income from June till now, but I'm confused on the FBAR requirements on my Canadian accounts.
I know I am exempt from FATCA, but if I had over $10,000 in foreign accounts before I moved, does that still count against me?
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Yes, you do need to file an FBAR because your Canadian account was over $10,000 during part of the 2017 tax year.
Yes, you do need to file an FBAR because your Canadian account was over $10,000 during part of the 2017 tax year.
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