What Is a Foreign (Non-US) Financial Account?

A foreign financial account is any account located outside the United States that holds financial assets. According to the US Treasury Department, these accounts must be reported if their total combined value exceeds $10,000 USD at any point during the calendar year, even for just one day.

Types of Foreign Financial Accounts Include:

• Bank accounts (checking, savings, time deposits)
• Investment or brokerage accounts
• Foreign mutual funds
• Securities or derivatives accounts
• Debit card and prepaid credit card accounts
• Foreign retirement or pension accounts (including certain employer-sponsored plans)
• Accounts held jointly with family or others
• Accounts where you have a signature or other authority, even if the account isn’t in your name

Read more about FBAR filing requirements

What You Should Do When Filing With Greenback

When completing your Greenback Tax Companion questionnaire, be sure to:

• List all foreign accounts you had over the years, even if an account was only open briefly
• Include the total number of accounts across all years
• Provide details for any account where you had ownership, joint ownership, or signatory authority

This ensures we can file your FBAR (FinCEN Form 114) accurately and keep you fully compliant with US reporting rules.

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