# FBAR question



## kman (Jun 21, 2012)

Hi,
I have a saving account of 20,000 $ and a loan of 100,000$ do I need to fill the fbar? 
The filing threshold is the value of assets of $10,000 an I am at -80,000$...


Thanks


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## swisspinoy (Jun 3, 2012)

You probably have to report the savings account, but not the mortgage account since it is a liability and not an asset.


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## kman (Jun 21, 2012)

so the total agregates only savings not loans?


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## Bevdeforges (Nov 16, 2007)

The FBAR only reports assets (i.e. financial accounts), not loans. So yes, you should file an FBAR for your savings account.
Cheers,
Bev


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## Peg (Sep 22, 2011)

Whether you have one account that is $10,001 or a bunch of acconts that add up to that you should file. Remember as well that it includes joint accounts.


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