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Report of Foreign Bank and Financial Accounts (FBAR)

If you are a U.S. citizen or U.S. resident and have a financial interest or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other types of foreign financial account, exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to the Department of Treasury by electronically filing a Financial Crimes Enforcement Network (FinCEN) 114, Report of Foreign Bank and Financial Accounts (FBAR).

Need help in filing your Foreign Bank Account Reporting to the IRS? Khob Tax Services is one of the best FBAR tax preparation and filing firms in USA that can help you file past foreign bank account reports accurately. We have a team of highly experienced tax advisors that can help you file your FBAR form effortlessly.

Who Must File an FBAR

  1. United States person had a financial interest in or signature authority over at least one financial account located outside of the United States.
  2. The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.
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