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    USTX5454's Avatar
    USTX5454 Posts: 11, Reputation: 1
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    #1

    Nov 7, 2018, 05:33 PM
    Citibank nre account in fbar?
    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's Avatar
    AtlantaTaxExpert Posts: 21,818, Reputation: 846
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    #2

    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's Avatar
    USTX5454 Posts: 11, Reputation: 1
    New Member
     
    #3

    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's Avatar
    AtlantaTaxExpert Posts: 21,818, Reputation: 846
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    #4

    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.

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