My spouse has over 10k in foreign assets (in their name only) and is required to file FBAR.
I do not have any foreign assets over 10k and therefore believe I am not required to file FBAR.
I'm not sure how to fill out Schedule B, the part where it asks if FinCEN form 1114/FBAR is required, since I am not required to file FBAR, but my spouse (who is not the "main" person on the return) is required to file FBAR:
- Do I say "no" because I am not and it is my SSN on schedule B?
- Or do I say "yes" because my spouse is required to do so?
You would answer "Yes" - if your spouse is required to comply with Report of Foreign Bank and Financial Accounts (FBAR) rules and you are filing a joint return.
Although only one spouse's SSN (yours) is used to identify and process a joint tax return, the other spouse's (your wife's) SSN is equally considered as part of the return.