What is and FBAR?

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Zephy
Posts: 8
Joined: Wed Sep 14, 2011 5:43 pm

What is and FBAR?

Post by Zephy »

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.
Z.
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Google FBAR, or search on ths forum.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Zephy
Posts: 8
Joined: Wed Sep 14, 2011 5:43 pm

Post by Zephy »

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.
Z.
Zephy
Posts: 8
Joined: Wed Sep 14, 2011 5:43 pm

Post by Zephy »

Ok, searched on Google. For some reason didn't think of that. Thanks.
Z.
Jyrki21
Posts: 24
Joined: Fri Jun 04, 2010 9:03 am

Post by Jyrki21 »

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.
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