Is CPP reportable on FBAR

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Jason
Posts: 3
Joined: Fri Jan 24, 2014 8:34 am

Is CPP reportable on FBAR

Post by Jason »

I have been in the US for several years now and have been filing the FBAR every year, but now I realized that I also have a CPP and have never put that on the FBAR. (I do not receive payments from the CPP, and have no information about its balance)

Is the CPP reportable on the FBAR? If so, can I just start adding it to my FBAR now and check balance unknown, or do I need to amend all previous FBARS?
tmlox60
Posts: 1
Joined: Fri Mar 18, 2022 12:00 pm

Re: Is CPP reportable on FBAR

Post by tmlox60 »

Jason, the rule has been that any foreign holdings which accumulate to more than US$10.000 must be declared on the FBAR.
If you contact CPP, they can tell you the dollar amount of any holdings you may have with them. If less than $10K, then you are find.
Otherwise, you have some amending to do.
Hope this helps .. good luck!
nelsona
Posts: 18358
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Is CPP reportable on FBAR

Post by nelsona »

CPP is NOT an account, much less a foreign account. It does not go on FBAR.
You have no imputed or otherwise value in CPP.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
ND
Posts: 291
Joined: Thu Feb 21, 2013 5:28 pm

Re: Is CPP reportable on FBAR

Post by ND »

" If less than $10K, then you are find"
Your FBAR analysis is as poor as your spelling and will mislead someone here.

10k is an aggregate amount. Since he is already filing FBAR before deciding if another account must also be included, if such account must indeed be included (and forgot about CPP, just generalize here), then even if it has $1 it must be included.
nelsona
Posts: 18358
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Is CPP reportable on FBAR

Post by nelsona »

AS I said, CPP is not an account.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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