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    lalji's Avatar
    lalji Posts: 81, Reputation: 2
    Junior Member
    		  
    #1

    Jun 29, 2010, 09:10 PM
    Foreign bank accounts
    Hello Atlanta tax expert

    I am on H1B visa and I have a citibank NRI account in India for which I also received 1099 form. My bank balance in this account in 2009 was less than $ 10,000. Do I need to fill Form TD F 90-22.1

    Please advise. I would really appreciate a response.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jun 30, 2010, 02:33 PM
    Negative; Form TD-F-90-22.1 is NOT required unless the account exceeded a balance of $10,000 at some time in 2008.

    Please note that the $10,000 threshold applies to ALL foreign accounts in aggregate. In other words, if you have three accounts, one for $3,000, one for $4,000 and a third for $3,500, Form TD-F-90-22.1 WOULD be required because, all combined, the balance for the accounts was $10,500.
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