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    Katerina1's Avatar
    Katerina1 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 8, 2011, 10:26 PM
    FBAR vs 2555 form/1116 form
    Should I file FBAR if I have filed 2555 form ?

    I have filed 2555 form and excluded full amount of 91,500 and for remaining income from oversea I have used form 1116. All my source of income was salary.

    I have two bank accounts in Europe where my salary was sent. Do I still need to report FBAR? Would IRS see unreported FBAR as hidden accounts and possible tax evasion despite my tax return ( 1040 and 2555 form and 1116 form )

    Thanks
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 9, 2011, 06:15 AM

    Yes, you must file FBAR if you meet the requirements of filing.
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