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sourabhbatwara
New Member

Am I a nonresident alien or resident alien? Also, am I supposed to file FBAR form?

I am on H1B visa and lived in US for the whole 2017. Am I a nonresident alien or resident alien? Also, am I supposed to file FBAR form?

1 Reply
LinaJ2018
Intuit Alumni

Am I a nonresident alien or resident alien? Also, am I supposed to file FBAR form?

As a H-1B visa holder, if you meet the Substantial Presence Test  SPT, you are very likely a resident alien for tax purposes.  As a resident, you are required to file FBAR if meet the following criteria.

Per IRS, United States persons are required to file an FBAR if:

  1. the United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
  2. the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

United States person includes U.S. citizens; U.S. residents; entities, including but not limited to, corporations, partnerships, or limited liability companies, created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.

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