Do I need to report my child's bank account (which has a balance of over $10,000) on my FBAR? Do I need to file an separate FBAR for my child?
- If you are listed on the account as a guardian with signatory authority, then you have to report this account on your FBAR.
- If you do not have signatory authority over the account, you do not have to list it on your FBAR.
- If your child is a U.S. citizen you must file an FBAR on their behalf regardless of the child's age and regardless of your own signatory authority.