I have a joint bank account in Canada with my mom (she is canadian and leaves in Canada) with small balance.
I have RRSP in Canada over 10k so, if I file dual-resident status tax return (as US resident from Sept - Dec 2021 this year) I know I need to file FBAR to report my RRSP account and joint bank ac but is it necessary report my mom's personal information as part of reporting?
If my mom and I cancel this joint bank account before I go to US before Sept, do I still need to report this joint account in FBAR form for year 2021?
FBAR reporting requirement on joint account
Moderator: Mark T Serbinski CA CPA
Re: FBAR reporting requirement on joint account
I would. FBAR is for the year. There is no harm in reporting. You have access to the account, so should report.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Re: FBAR reporting requirement on joint account
Thanks nelsona.