Quick FBAR and 8938 Question

[JDAR 2]

Hi all, Wondering if anybody can offer any advice.

I moved to the US from the United Kingdom on 26^th October 2015. We got married on 23^rd December 2015. We are currently in the AoS period and everything is going along nicely.

I still have my bank accounts in the UK. One my current account which I am living on at the moment and an online savings account. I haven't opened an account here yet as my I want to go with my wife's bank which is a credit union but they won't let me open an account till I have a greencard.

My wife filed her tax return in January for 2015 as a single person. I haven't filed one as I have not worked here and have no income.

I received a W9 form from my UK bank which I have completed and returned.

I have been reading up and I'm not sure if I need to fill in form 8938 as I didn't file a tax a return for 2015 as I only got here at the end of October and don't work.

Do I need to fill in FBAR? As my online savings account exceeds $10000 as it is from Inheritance from when my father passed away. I'm guessing I do.

This is all very confusing. Any help and advice would be greatly appreciated.

Thank you for your time.

Edited March 21, 2016 by JDAR

[rutabaga 209]

I think that if you were in non-resident status throughout last year, then you're good, and you're not required to file FBAR for 2015 (since that only generally applies to citizens and residents and not non-residents).

On a related note, since you two got married on Dec 23, your wife shouldn't have filed as single since filing status for the whole year in this regard (single vs. married) is determined by whether you were married or not on the last day of the year in question. Now, she can amend her return to married file separately or you two can elect to treat you as a resident (and file MFJ), but you'll have to figure out if it will be financially worth it (you would also have to report your world-wide income for that year if you go the MFJ route), but I mention this mainly since if she refiles as MFJ then you'd definitely fall under FBAR reporting with the amended return (since you'd be treated as a resident for tax purposes).

Edited March 21, 2016 by rutabaga

[JDAR 2]

I think that if you were in non-resident status throughout last year, then you're good, and you're not required to file FBAR for 2015 (since that only generally applies to citizens and residents and not non-residents).

On a related note, since you two got married on Dec 23, your wife shouldn't have filed as single since filing status for the whole year in this regard (single vs. married) is determined by whether you were married or not on the last day of the year in question. Now, she can amend her return to married file separately or you two can elect to treat you as a resident (and file MFJ), but you'll have to figure out if it will be financially worth it (you would also have to report your world-wide income for that year if you go the MFJ route), but I mention this mainly since if she refiles as MFJ then you'd definitely fall under FBAR reporting with the amended return (since you'd be treated as a resident for tax purposes).

Thank you for your reply. My wife is going to amend her return and file a MFS for 2015. I'm still unsure about the FBAR, I think I might just fill it in anyway as I'm not sure when my status as a resident began. I returned the W9 form to my bank saying I am a resident as I had read a few people on here had done while still in the AoS period. I have no address or anything in the UK now, I guess I'll be a resident soon enough anyway.

Thank You.

[rutabaga 209]

No problem. I'd think that your resident status wouldn't begin until you get your green card (or at least until you get notice that your AoS is approved), but I am definitely not sure how it works exactly when adjusting from a K-1.

Edited March 21, 2016 by rutabaga

[Nich-Nick 3,354]

FBAR is now an easy online thing to report and not actually due (for 2015) until June. Might as well do it if in doubt. It doesn't change your taxes or your life by doing it.