FBAR

Forum|Forum|6 years ago
March 15, 2020
1 reply
12 views

For tax purpose i was non-resident in 2019 and will become resident in 2020 for tax purpose(assuming that 183 days are completed).

I had foreign account with more than 10,000$, do i need to file FBAR this year, or i need to fill it next year.

Thanks.

DavidD66

Level 15

According to the IRS, you must file an FBAR if you are:

A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report:

a financial interest in or signature or other authority over at least one financial account located outside the United States if
the aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

The way I read this is you do not need to file an FBAR for 2019.

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