What type of accounts should be reported on FBAR and FATCA?
You may find the summary of foreign bank account subject to FBAR/FATCA reporting in this table. Please report all existing accounts, even if the balance is 0.
Account to be reported on FBAR (FinCEN 114)
- Checking account held in a Non-US domiciled bank
- Savings account held in a Non-US domiciled bank
- Checking account held at a Non-US branch of a US domiciled bank
- Savings account held at a Non-US branch of a US domiciled bank
- Non-US financial account over which you have signature authority
- Non-US securities or stock held in a foreign financial institution
- Non-US accounts owned by a foreign entity in which you have least 50% financial interest
- Non-US mutual funds (these may have additional filing requirements for PFIC 8621)
- Non-US accounts held by either a foreign or domestic trust with which you are associated
- Foreign life insurance policy with cash value
- Foreign annuity contract
Accounts or items to be reported on Form 8938:
- Checking account held in a Non-US domiciled bank
- Savings account held in a Non-US domiciled bank
- Non-US mutual funds
- Non-US financial accounts held by either a foreign or domestic trust with which you are associated
- Non-US hedge funds
- Non-US private equity funds
- Non-US life insurance policy with cash value
- Non-US annuity contract