My spouse and me filed 2013 return jointly. He has already filed his FBAR online for his own foreign accounts. We don't have joint foreign accounts. Should I just file my own FBAR online or we are required to file FBAR jointly as well because we filed return jointly?
Thanks.
FBAR filing jointly or separately
Moderator: Mark T Serbinski CA CPA
You cannot normally file an FBAR jointly, regardless of whether you file your 1040 jointly or not.
The one exception is that if one spouse only has foreign accounts that are held jointly with the other spouse (who may have additional accounts as well), then the first spouse **may** be included with the second spouse's filing. However, this is optional.
The one exception is that if one spouse only has foreign accounts that are held jointly with the other spouse (who may have additional accounts as well), then the first spouse **may** be included with the second spouse's filing. However, this is optional.
I don't think rlb's statement is quite correct.
two US filer, each with simple and joint accounts, must still submit 2 FinCens: 1 filer will file their simple accounts, the other with their simpe accounts.
All that is optional is which joint accounts will be included on which of those 2 fincen files.
I do not believe that FInCen allows for 2 persons to report individual accounts in the same filing. I know FBAR did not allow it.
two US filer, each with simple and joint accounts, must still submit 2 FinCens: 1 filer will file their simple accounts, the other with their simpe accounts.
All that is optional is which joint accounts will be included on which of those 2 fincen files.
I do not believe that FInCen allows for 2 persons to report individual accounts in the same filing. I know FBAR did not allow it.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
echo: Since your husband has already filed, it is water under the bridge this year for you. Just go ahead and file for yourself, it is easy enough.
nelsona: the examples you gave are correct, of course. But in your examples, each spouse had simple (individual) accounts as well as the joint ones. I spoke of a situation in which one spouse had perhaps simple/individual accounts, some joint accounts with the other spouse, and even perhaps other accounts jointly with other folks (in my case, my wife had joint accounts with her mother). The paper FBAR forms one filed prior to 2012 allowed only my wife to file: "Exceptions. Certain Accounts Jointly Owned by Spouses. The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met: (1) all the financial accounts that the non-filing spouse is required to report are jointly owned with the filing spouse; (2) the filing spouse reports the jointly owned accounts on a timely filed FBAR; and (3) both spouses sign the FBAR in Item 44. See Explanations for Specific Items, Part III, Items 25-33. Otherwise, both spouses are required to file separate FBARs, and each spouse must report the entire value of the jointly owned accounts."
I believe that in the first year of electronic filing, they had not worked out a provision for a joint signing, and this could not be done electronically. This year's instructions for electronic filing say, however: "Exceptions: Certain Accounts Jointly Owned by Spouses. The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met: (1) all the financial accounts that the non-filing spouse is required to report are jointly owned with the filing spouse; (2) the filing spouse reports the jointly owned accounts on a timely filed FBAR electronically signed (PIN) in Item 44; and (3) the filers have completed and signed Form 114a, “Record of Authorization to Electronically File FBAR’s†(maintained with the filers’ records). Otherwise, both spouses are required to file separate FBARs, and each spouse must report the entire value of the jointly owned accounts. See instructions for specific items, Part III, Items 2533."
nelsona: the examples you gave are correct, of course. But in your examples, each spouse had simple (individual) accounts as well as the joint ones. I spoke of a situation in which one spouse had perhaps simple/individual accounts, some joint accounts with the other spouse, and even perhaps other accounts jointly with other folks (in my case, my wife had joint accounts with her mother). The paper FBAR forms one filed prior to 2012 allowed only my wife to file: "Exceptions. Certain Accounts Jointly Owned by Spouses. The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met: (1) all the financial accounts that the non-filing spouse is required to report are jointly owned with the filing spouse; (2) the filing spouse reports the jointly owned accounts on a timely filed FBAR; and (3) both spouses sign the FBAR in Item 44. See Explanations for Specific Items, Part III, Items 25-33. Otherwise, both spouses are required to file separate FBARs, and each spouse must report the entire value of the jointly owned accounts."
I believe that in the first year of electronic filing, they had not worked out a provision for a joint signing, and this could not be done electronically. This year's instructions for electronic filing say, however: "Exceptions: Certain Accounts Jointly Owned by Spouses. The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met: (1) all the financial accounts that the non-filing spouse is required to report are jointly owned with the filing spouse; (2) the filing spouse reports the jointly owned accounts on a timely filed FBAR electronically signed (PIN) in Item 44; and (3) the filers have completed and signed Form 114a, “Record of Authorization to Electronically File FBAR’s†(maintained with the filers’ records). Otherwise, both spouses are required to file separate FBARs, and each spouse must report the entire value of the jointly owned accounts. See instructions for specific items, Part III, Items 2533."