Preventing the Disaster: Understanding When to File the Report on Foreign Bank and Financial Accounts (FBAR)
Despite the potentially grave consequences, many U.S. taxpayers are completely unaware of the extensive reporting requirements under the Bank Secrecy Act, particularly of the [...]
FBAR: Aggregate Value Requirement
FBAR filing is required only if the aggregate balances of a U.S. person’s foreign financial accounts exceed $10,000. Despite appearances, the requirement that the [...]
FBAR (Report on Foreign Bank and Financial Accounts) is due on June 30, 2010
The FBAR must be filed by June 30 of each relevant year, including this year (2010).