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    deep_80's Avatar
    deep_80 Posts: 1, Reputation: 1
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    #1

    Feb 8, 2013, 05:19 PM
    Fbar filing for money transferred to parents account in india?
    Hi,

    I am on H1(resident alien for tax purpose) visa status and would like to know if I need to file FBAR for the money (after tax from salary) I transferred to my parents account in India (not joint account with me) for family maintenance?

    Thanks for your time.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Feb 9, 2013, 01:07 PM
    If you transferred the money from the U.S. to YOUR account in India, AND, if at any time, the balance of that account reached $10,000, then, yes, an FBAR is required.

    The Form is TD-F 90-22.1, which can be downloaded from Internal Revenue Service. Read the instructions carefully, but if you have only that ONE account, it should only be a one-page submission.

    The address is contained in the instructions, and the form must be IN THE IRS' POSSESSION by 30 June 2013.
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