Skip to main content
Level 2
March 9, 2021
Solved

FBAR filing requirements for new immigrant

  • March 9, 2021
  • 1 reply
  • 17 views

I got my green card on August 2020 and was a nonresident alien before then. My foreign account balance was over $10,000 in early 2020 while I was a nonresident alien, but it has been less than $10,000 since I immigrated became a resident. Do I still need to file  an FBAR in this case?

    Best answer by MinhT1

    The FBAR looks at the full year. And you have to file a FBAR if your foreign account exceeds $10,000 at any time during the year.

     

    As you are a US resident at the end of 2020, you'll have to file a FBAR by April 15, 2021.

    1 reply

    MinhT1Answer
    Level 15
    March 9, 2021

    The FBAR looks at the full year. And you have to file a FBAR if your foreign account exceeds $10,000 at any time during the year.

     

    As you are a US resident at the end of 2020, you'll have to file a FBAR by April 15, 2021.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"