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Old 13.11.2011, 09:05
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Re: FBAR advice needed!

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Have your husband transfer funds as needed, and never over the ever diminishing USD 10k.
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So, I'd second the advice proferred above: have your own account, and keep it under $10k, and you will have no issues at all. Alternatively, have signature authority only for accounts which generate little or no interest income, and file the FBAR /and/ a tax return. (It has advantages regarding the statute of limitations; there is none if you don't file.)
Please note that the 10K rule is NOT per account, rather, it is the total value of money in ALL accounts under your name and/or where you have signatory rights.

For example: You can have two accounts, one valued at $5000, the other $6000, these would then both have to be declared on the FBAR since their total value is $11,000.

Last edited by ElJeFe; 13.11.2011 at 10:48. Reason: grammar
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american, fbar, married, no income, taxes


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