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View Full Version : Never sent any money out of US


Heyits
Jan 13, 2012, 12:40 PM
If I have never sent any money out of US to my home country but I do have more than $10000 in my foreign account, do I still need to submit FBAR forms?

taxesforaliens
Jan 13, 2012, 12:46 PM
yes, if the sum of your foreign assets is more than $10,000 you are required to file the FBAR forms, no matter if you sent money abroad or not.
If your foreign assets exceed 100,000 (for married filing jointly) you are also required to file form 8938 with your tax return.
http://www.irs.gov/irs/article/0, id=251216,00.html