Does My Child’s Foreign Bank Account Need Its Own FBAR Filing?
Yes, a U.S. citizen or resident child who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any point during the year must have an FBAR (FinCEN Form 114) filed in the child’s name. If the child cannot file due to age, a parent, guardian, or other legally responsible person must file on the child’s behalf.
- Filed in the child’s name: Use the child’s Social Security Number, not the parent’s
- Parent signs electronically: The parent or guardian signs the FBAR for the child
- Separate from parents’ FBAR: The child’s FBAR is a distinct filing, not combined with yours
- Same $10,000 threshold: Aggregate all of the child’s foreign accounts, including custodial accounts, savings bonds, and education accounts held abroad
Common scenarios for expat families:
| Scenario | FBAR required for child? |
| The child has a foreign savings account opened by a grandparent | Yes, if the aggregate is over $10,000 |
| Child’s custodial account at a foreign bank | Yes |
| Parent’s account with child listed as beneficiary (not owner) | No (child has no financial interest) |
| Joint account with child and parent | Yes for both parent and child |
| 529 plan held at a U.S. institution | No (U.S. account, not foreign) |
Does the parent also report the child’s account?
If you have signature authority over your child’s foreign account, that account will also appear on your FBAR. You are not double-counting. The child files (or you file for them) listing ownership, and you file listing signature authority.
Other reporting:
- Form 8938: Only required if the child files a Form 1040 and meets the asset threshold
- Schedule B: If the child’s return includes interest or dividends, answer the foreign account question
For family FBAR filing help, see our FBAR Reporting Guide.
Last updated on April 29, 2026
