Level 2

posted Oct 25, 2023 2:22:27 PM

Foreign bank account

I have foreign bank account with balance more than $10,000. do I need to report?

0

1

231

1 Replies

Level 15

Oct 25, 2023 2:24:59 PM

Yes, that has to be reported.

Go to this IRS website for Form 8938 and FinCEN114 reporting requirements - https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements