# FBAR and non-resident spouse question



## city

What is the recomended TIN for a NRA fiance? It appears I need to fill out part IV it for my (next years) FBAR. 

I can sign for his bank account - would that qualify for part IV? Or is pt IV for signatory authority over a company bank account?

He is an NRA and is uncomfortable filling out his information - any recommendations here? Just writing NRA in all the spaces? Or what is the normal practice with this?


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## city

Sorry, I mean he's a non-usa resident (He's an Aussie citizen). I have a card to his bank account (access to the funds) but no other type of authority - I cannot see transactions - does this constitute a pt IV?

I do not contribute to the account at all, simply hold an ATM card for it (in my name).


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## city

Also a follow up question; how do credit card accounts add up into the FBAR if at all?


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## Bevdeforges

Easy question first: Credit card accounts are not part of the FBAR reporting requirement.

As for your NRA fiance and your signature authority over the account, it's probably best reported as a "joint" account. Part IV is for accounts where you hold "signature authority" but have no financial interest - means that you are a check signer, but for the account of an employer or other organization (club or association, say) where you aren't really entitled to use the money for your own purposes.

The fact that you can withdraw money from the account makes it a joint account. You'll have to give your fiancé's name, but for the TIN, just put in "NRA" to indicate that he has no SSN nor is he entitled to an ITIN (because he is not subject to US taxes). He does not need to fill in any information, nor report the account himself to the US authorities. It's only your reporting requirement. He should not sign off on the form. Again, that's your responsibility.
Cheers,
Bev


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## city

Hi Bev thanks for the response. 

I have another question:
I am a homemaker and do not work. I Do not filed a usa tax returns as a result. My fiancé and I have never had enough savings to worry about fbars before, but this year his parents gave us a large sum of money to help us buy our 1st home. I guess I'm just wondering if it's going to look odd to the irs that I've never filed and now I will file a large fbar, and probably never file one again for a long time. What are your thoughts on this?


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## Bevdeforges

No, not at all. The tax filing and the FBAR filing are completely independent obligations. As it is, for the moment, you are still subject to the "single" filing thresholds - so unless you have $10,000 in income (in your name) to declare, you have no filing obligation for income taxes. FBAR is separate, and so you file - indicating that you have a joint account.

In future years, your filing requirement will change after you get married - for married, filing separately, the threshold is something like $3500. But again, you don't file unless your income exceeds that figure (and that means income in your name - you do not have to report income your husband is receiving).

For the FBARs it depends on the combined balance of all non-US accounts you have signature authority over. But if you only have to file in one year and then not again, that's how it works out.
Cheers,
Bev


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## StewartPatton

city said:


> Hi Bev thanks for the response.
> 
> I have another question:
> I am a homemaker and do not work. I Do not filed a usa tax returns as a result. My fiancé and I have never had enough savings to worry about fbars before, but this year his parents gave us a large sum of money to help us buy our 1st home. I guess I'm just wondering if it's going to look odd to the irs that I've never filed and now I will file a large fbar, and probably never file one again for a long time. What are your thoughts on this?


I have several clients in your exact factual situation (i.e., normal income levels but huge FBAR account levels), and it's not a red flag at all when there are reasons to explain it (i.e., a large gift (your situation), signature authority over employer's accounts, temporary custody of other people's funds, etc.). 

I also have several clients in your exact psychological/emotional situation (i.e., fear of the IRS that causes them to worry about things that are not actually worrisome). If you fill out the proper forms and put the truth on them, you never have anything to worry about. If they ask why you have a large account with little income you tell them about the gift from the parents and then get on down the road. I just don't think there is ever any reason to fret too much about telling the truth.


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