# closed bank accounts and FBAR



## Stargazer (Jan 10, 2009)

I am simplifying our Canadian financial life before heading to the UK. This means dealing with one bank and closing the other bank accounts. While I know that for 2016 FBAR I will report the highest balance as usual, do I also need to indicate somehow that I closed them?


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## Bevdeforges (Nov 16, 2007)

No. The following year when you don't report the foreign account(s) is all the indication of the closure that is required.
Cheers,
Bev


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## thepaleguy1 (Feb 14, 2017)

What about if you want to file delinquent FBAR, but you closed account and don't have access to the data?


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## Bevdeforges (Nov 16, 2007)

thepaleguy1 said:


> What about if you want to file delinquent FBAR, but you closed account and don't have access to the data?


You make a good faith "guesstimate" of what the high balance might have been. Maybe add a few thousand to your best guess. They really don't check the "accuracy" of what you report. It's just a matter of having notice of the existence of the account and a rough idea of the magnitude of it.
Cheers,
Bev


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## Moulard (Feb 3, 2017)

If the amounts were high enough for you to have had to file Form 8938 then I would suggest using that value -- assuming you still have a copy of the return. 

If the amounts were between the FBAR and Form 8938 requirements then I would probably take an educated guess, round up and report on that. Remember that the FBAR is just a reporting requirement on the maximum value. I would simply suggest that you don't round up into Form 8938 territory.


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