• Ep 34: What is English For "FBAR"?

  • Dec 25 2024
  • Length: 10 mins
  • Podcast

Ep 34: What is English For "FBAR"?

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  • Summary

  • We discuss the FBAR (Foreign Bank Account Report) and why it is important to be aware of it.

    It's a FORM that needs to be filed under the Bank Secrecy Act if you have a financial interest or signatory authority over a foreign financial account.

    And the aggregate value of these accounts exceeds $10,000 at any time during the reporting year. The FBAR filing requirement applies to all types of financial accounts, not just bank accounts.

    Failure to file the FBAR can result in substantial penalties.


    Episode Links & Resources

    • Are you Tax-compliant With Your Overseas Assets? - Free Guide - Scroll to the bottom of the page.
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    The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.

    Be sure to join the conversation by visiting our page The International Money Cafe

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