FBAR
Who Must File an FBAR. A United States person that has a financial interest in or signature
authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign
financial accounts exceeds $10,000 at any time during the calendar year.
Financial Account. A financial account includes, but is not limited to, a securities, brokerage,
savings, demand, checking, deposit, time deposit, or other account maintained with a financial
institution (or other person performing the services of a financial institution). A financial
account also includes a commodity futures or options account, an insurance policy with a cash
value (such as a whole life insurance policy), an annuity policy with a cash value, and shares in
a mutual fund or similar pooled fund (i.e., a fund that is available to the general public with a
regular net asset value determination and regular redemptions).
Joint Account. A financial account type listed above owned jointly by two or more persons.
Foreign Financial Account. A foreign financial account is a financial account located outside of
the United States. For example, an account maintained with a branch of a United States bank
that is physically located outside of the United States is a foreign financial account. An account
maintained with a branch of a foreign bank that is physically located in the United States is not
a foreign financial account
A Foreign stock in the form of an A(merican) D(epository) R(eceipt) held in an account physically located in the US is not reportable
from form 8938 instructions https://www.irs.gov/pub/irs-pdf/i8938.pdf
if you are a US citizen (non US citizens have different filing requirements)
your applicable reporting threshold depends upon whether you are married, file a joint federal income tax return, and live inside (or outside) the United States.
Taxpayers living in the United States:
If you do not live outside the United States, you satisfy the reporting threshold discussed next that applies to
you, and no exception applies, file Form 8938 with your income tax return.
Unmarried taxpayers.
If you are not married, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than $50,000 on the last day of the tax year or more than $75,000 at any time during the tax year.
Married taxpayers filing a joint income tax return.
If you are married and you and your spouse file a joint income tax return, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than $100,000 on the last day of
the tax year or more than $150,000 at any time during the tax year.
Married taxpayers filing separate income tax returns.
If you are married and file a separate income tax return from your spouse, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than $50,000 on the last day of
the tax year or more than $75,000 at any time during the tax year.
Taxpayers living outside the United States:
If your tax home is in a foreign country, you meet one of the presence abroad tests (see 8938 instructions) , and no exception applies, file Form 8938 with your income tax return if you satisfy the reporting threshold discussed next that applies to you.
Unmarried taxpayers.
If you are not married, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than $200,000 on the last day of the tax year or more than $300,000 at any time during the tax year.
Married taxpayers filing a joint income tax return.
If you are married and you and your spouse file a joint income tax return, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than $400,000 on the last day of
the tax year or more than $600,000 at any time during the tax year.
Married taxpayers filing separate income tax returns.
If you are married and file a separate income tax return from your spouse, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than $200,000 on the last day of
the tax year or more than $300,000 at any time during the tax year.
Determining the Total Value of Your Specified Foreign Financial Assets
You must figure the total value of the specified foreign financial assets in which you have an interest to determine if you satisfy the reporting threshold that applies to you.
see page 6 of instructions for what's included in SFFA
