Do I need to file FBAR?
You must file an FBAR if the aggregate value of all your foreign financial accounts exceeded $10,000 at any time during the calendar year. Learn what counts, who must file, and common exceptions.
You must file an FBAR (FinCEN Form 114) if you are a US person (citizen, resident, entity, or trust) and the aggregate value of all your foreign financial accounts exceeded $10,000 at any time during the calendar year. This includes bank accounts, securities accounts, and any other financial account maintained by a foreign financial institution. The threshold is aggregate across all accounts — even if no single account exceeded $10,000. You also must file if you have signature authority over accounts that exceed the threshold, even if you do not own the assets.