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View Full Version : Citibank nre account in fbar?


USTX5454
Nov 7, 2018, 05:33 PM
I am in US and filing FBAR with INDIAN bank ACCOUNTS (LIC policies mainly). I have CITIBANK NRE and NRO accounts. I was told citibank has branch in USA and hence no need to include them in FBAR. Is it so?

Can someone confirm if this understanding is correct?

I do get 1099 interest forms from citibank and I have been including them in tax filling along with my W2.

AtlantaTaxExpert
Nov 8, 2018, 08:14 AM
Because Citibank is a U.S. bank from which you are receiving Firm 1099-INT, you have NO requirement to file an FBAR for your accounts in Citibank India.

USTX5454
Nov 9, 2018, 07:37 AM
Thanks for the response...

But recently my spouse (joint holder) got letter to submit "CRS-Individual-Self-Certification-Form" from Citibank. Was wondering why they sent letter only for one person.. Also every year we do submit KYC forms and address change forms (if changed).

AtlantaTaxExpert
Nov 9, 2018, 07:41 AM
The
CRS-Individual-Self-Certification-Form seems to be an internal requirement. I have dealt with Citibank with other clients, so I KNOW their accounts do NOT have to be included on the FBAR.