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haku999
New Member

FBAR and form 8938 for 2024 HSBC Canada Bank Acquisition

To recap, in March 2024 HSBC Canada was acquired by RBC (both non-US banks). I had savings/chequing accounts with HSBC Canada that have transitioned to corresponding RBC accounts with new account numbers. I am dual Canadian/US, living entirely in Canada, required to and have filed FBARs and the IRS form 8938 for years.

 

Q: Would I report this on the 2024 FBAR and 8938 as if I had closed the HSBC accounts and opened the RBC accounts in 2024? This seems like a no-brainer but I'm unsure if I need to file or disclose any other relevant forms.

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