What is FBAR?

FBAR is the Foreign Bank Account Report of “United States person”. If you are an “United States person” who has more than one foreign bank account, you are supposed to file Form 114 electronically with the US Treasury Department. You must also list all your foreign accounts there. This has to be filled by June 30th each year, when any of your foreign accounts reach an aggregate over $10,000.

The term ‘United States person’ means

(1) a citizen or resident of the United States,

(2) a domestic partnership,

(3) a domestic corporation, or

(4) a domestic estate or trust.”

Most Viewed Q&A

Related Articles

Go Mobile

Get the Best Exchange Rates, Important Remittance Information and
Special Promotion Alerts on the go! Download Our Mobile App on your Smartphone or Smartwatch.

google play apple app store

Join Our Movement

Some of the top global brands are collaborating with us to showcase their services to millions of active international users. Let us know how we can help.

Founded in 2012, CompareRemit is the first, largest, and fastest-growing money transfer comparison marketplace globally. Put your brand in front of millions of active remittance users, ready to send money using your services. To learn more schedule a call with our Strategic Partnership Manager or fill out the form below and we will reach out to you within 2 business days.

Submit your contact information and we will get back to you as soon as possible.

Invalid character entered.

Submit your contact information and we will get back to you as soon as possible.

Invalid character entered.

CompareRemit is a part of FrontAd Media Inc., a digital media company built by a team of passionate marketing experts, with in-depth knowledge and direct access to the immigrant population in the United States. We are not a conventional or typical marketing agency, but rather an end-to-end digital marketing solutions provider that works to bridge the gap between your brand and your target audience. Working with you every step of the way from concept to execution, FrontAd Media Inc is proven to deliver measurable results.

Thank you for contacting us. We will get back to you shortly.