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caithigg10
New Member

I was a joint account holder with my partner (Australian resident & account) & the savings did reach over 10,000 but it was his income, do I have to file a separate form?

This was a foreign bank account in Australia
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DDollar
Level 1

I was a joint account holder with my partner (Australian resident & account) & the savings did reach over 10,000 but it was his income, do I have to file a separate form?

If it was a joint account, you meet the requirement of a Financial Interest.  If the account had a balance that exceeded $10,000 at any time during the calendar year, you have to file a  This is a cumulative balance, meaning if you have 2 accounts with a combined account balance greater than $10,000 at any one time, both accounts would have to be reported.

You are required to file a FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR)

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DDollar
Level 1

I was a joint account holder with my partner (Australian resident & account) & the savings did reach over 10,000 but it was his income, do I have to file a separate form?

If it was a joint account, you meet the requirement of a Financial Interest.  If the account had a balance that exceeded $10,000 at any time during the calendar year, you have to file a  This is a cumulative balance, meaning if you have 2 accounts with a combined account balance greater than $10,000 at any one time, both accounts would have to be reported.

You are required to file a FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR)

View solution in original post

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