FBAR

[Letspaintcookies 2,310]

So I still have one bank account back in Germany. At no time of the year it has even more than $1000 in it so I don't have to file FBAR right? Only if there would be more than $10000 in it at any point of the year or do I read the instructions wrong?

[Veronikac 15]

That is correct. You just need to answer YES to the question whether you have a foreign bank account but you do not need to fill the FBAR. You should still report any interest from your foreign bank account as your income.

[Letspaintcookies 2,310]

1 hour ago, Veronikac said:

That is correct. You just need to answer YES to the question whether you have a foreign bank account but you do not need to fill the FBAR. You should still report any interest from your foreign bank account as your income.

You mean when I file taxes there's a question about that? That's easy enough to do. Thank you.

And yes I'll report those $2,46 or whatever it is 😁

[Veronikac 15]

Yes, there is a question about the foreign bank account on the form 1040. You will just answer Yes, I have a foreign bank account and No, you are not required to fill the FBAR. I am in similar situation, I am always reporting my $2 interest from my foreign bank on 1040 form (just in case) 🙂