What is and FBAR?

Zephy · Post by **Zephy** » Tue Oct 04, 2011 9:42 pm

Ok, sorry for the stupid question, but I"m new to this. Just found out that I have to file US taxes. (Born in States to Can. parents, moved to Canada when a year and a half).
I'm trying to figure out what an FBAR is. Is it just my 1040 form? I am currently filing a 1040, 2555-EZ, schedule B, and 8891. I know I have to file another form to some other place that tells what my max amount in each bank account is.
Am I on the right track? I plan on going back to 2005 as I don't have all my paper work stillf for 2003 or 2004.
Thanks for any insight.
Z.

nelsona · Post by **nelsona** » Tue Oct 04, 2011 9:53 pm

Google FBAR, or search on ths forum.

Zephy · Post by **Zephy** » Tue Oct 04, 2011 10:01 pm

I did try many searches for FBAR but nothing came up to tell me what it was. I guess I'm not very good at this yet.

Zephy · Post by **Zephy** » Tue Oct 04, 2011 10:02 pm

Ok, searched on Google. For some reason didn't think of that. Thanks.

Jyrki21 · Post by **Jyrki21** » Fri Oct 07, 2011 1:21 pm

It is a separate form - http://www.irs.gov/pub/irs-pdf/f90221.pdf

It's actually not all that difficult to fill out if you have all your banking information handy for every account, at every point in the year. With online banking this is not too difficult, but it still takes a little while to do.

If you're back-filing, it can be fully obnoxious, as the records you need may be harder to come across.