Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Citibank nre account in fbar? (https://www.askmehelpdesk.com/showthread.php?t=841871)

  • Nov 7, 2018, 05:33 PM
    USTX5454
    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.
  • Nov 8, 2018, 08:14 AM
    AtlantaTaxExpert
    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.
  • Nov 9, 2018, 07:37 AM
    USTX5454
    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).
  • Nov 9, 2018, 07:41 AM
    AtlantaTaxExpert
    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.

  • All times are GMT -7. The time now is 02:00 PM.