Do I have to report my foreign accounts?


The Foreign Bank Account Reporting (FBAR) is only required if you have a financial interest in one or more overseas financial accounts and the total value of all of the financial accounts combined was $10,000 or more during any point during the tax year.

The FBAR (FinCEN Form 114) must be filed electronically with the US Treasury Department (not the IRS) by April 15th. FinCEN grants filers failing to meet the FBAR annual due date of April 15 an automatic extension to October 15 each year. Accordingly, you do not need to file a request for this extension.