The FBAR considers each person separately.
Example One: You have two JOINT (your and your spouse) accounts, each which had a MAX balance of $5,000 ON THE SAME DATE, then you submit ONE FBAR under YOUR NAME, but you BOTH sign the form since they are joint accounts.
Eample Two: You have just ONE SEPARATE under just your name for $5,000, and your wife has just ONE SEPARATE under just her name for $5,000, then NO FBAR is requited from either of you because neither of you meet the $10,000 threshold.
Example Three: You have just ONE SEPARATE under just your name for $5,000, and your wife has just ONE SEPARATE under just her name for $5,000, AND you have a JOINT account that, on the same date as the separate accounts, has a balance of $6,000. In that case, you BOTH must submit SEPARATE FBARs. On your FBAR, you report your separate account and the joint account. On HER FBAR, she reports HER separate account and the JOINT account.
If you decide you need professional help on this matter, email me at the email address in my profile.
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