# A new twist on the FBAR topic



## amphitecna (Aug 12, 2011)

Hello all,

Just to add some spice and flavor to the FBAR discussions I have a new question:

Is it advantageous or not to file it early? I finally did my taxes, and for me, the two go together. Taxes are going in today. Should I send that bad boy too, or sit on it for a few months (you know, so they have one more envelope in the ginourmous pile arriving in June)?

Ok, 2 questions:

Perhaps its paranoid of me, but I listed the joint-owner as NRA-Spouse, with NRA in the SSN. He actually has an SSN. Bad idea? Should I be more forthcoming with info? I just feel it's none o'their daggone business. But we might return to the US someday.....

Thanks guys! Hope you are all well and enjoying a less chaotic spring than we're having here. Vive le soleil!


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## Bevdeforges (Nov 16, 2007)

As long as it arrives before the June 30th deadline, it really doesn't matter when you send the FBAR form in. It's a separate bureau within the Treasury Dept. (i.e. not the IRS) and honestly it's doubtful they'll bother trying to match it up against your tax return - unless something really startling turns up on one form or another.

Second question: As long as your NRA Spouse does not have a current filing requirement with the IRS, I'd do just as you have done and let it go.
Cheers,
Bev


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## amphitecna (Aug 12, 2011)

Nah, we're compliant. It's just that I guess I feel this whole thing is utterly invasive to begin with regarding the details they ask for in terms of banks (the balances, surprisingly, bother me less than I thought, but the bank information coupled with my info seems like a sign saying "please steal my identity" or something along those lines). His SSN was given to him while he was an RA. And I presume if business ever takes us Stateside again, it would still be valid (and probably an argument for listing him as BBC suggests). But since he's out of the States and of no concern to them, I guess I'm looking at it as a privacy issue. I suppose it's just me pushing back in my own little way. I do list him on the IRS forms. However, on those I leave off his social, which might be stupid since it prevents me from efiling, but tell them he's an NRA so they don't bother looking for his corresponding part of the taxes.

Dunno. I'm glad you guys have opposing viewpoints- it gives those of us trying to figure this stuff out better information. ThE FBars haven't gone in yet, so I may yet change my mind.

BBC- what's your take then on sending the Fbars in early? I guess it doesn't change anything, but it seems to me to be better to be part of the flock, rather than the lone straggler......

I only just discovered this whole thing in October, so while I do feel better about the whole thing, I'm still a bit paranoid.....looking forward to 2018 [sigh].


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## Bevdeforges (Nov 16, 2007)

Actually, the OECD is encouraging many of their members to institute reporting of foreign accounts. Here in France, we have to report our foreign accounts - down to the account numbers - every year as part of our tax declarations, too. We don't have to declare the balances (high, low or anything), but we do have to give the names on the account. We aren't expected to report employer's accounts we have signature authority over, though.

There's now also a separate reporting of foreign life insurance accounts, too. (I've taken to reporting my IRA account as "foreign life insurance" just to make sure there is no misunderstanding when I start drawing out my retirement funds.)
Cheers,
Bev


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