# Form 8938/FBAR



## Pro.wolf (Apr 4, 2016)

Does anyone know for how long do we need to save bank statements for accounts reported in form 8938 and/or FBAR? Can't find anything regarding this in the IRS page

Majority of my statements are online and not sure if I should print them all. Some statements are only kept online 24 months


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## byline (Dec 5, 2011)

From this IRS FBAR Reference Guide https://www.irs.gov/pub/irs-utl/IRS_FBAR_Reference_Guide.pdf:

Generally, records of accounts required to be reported on the FBAR should be kept for five years from the due date of the report, which is June 30th of the year following the calendar year being reported. The records should contain the following:
Name maintained on each account.
Number or other designation of the account.
Name and address of the foreign bank or other person with whom the account is maintained.
Type of account.
Maximum value of each account during the reporting period.


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## Pro.wolf (Apr 4, 2016)

byline said:


> From this IRS FBAR Reference Guide https://www.irs.gov/pub/irs-utl/IRS_FBAR_Reference_Guide.pdf:
> 
> .


Thanks byline for the FBAR guide link. 

As per guide a copy of the submitted FBAR will satisfy the record keeping for FBAR - yeah, no bank statement printing for FBAR. ('...Retaining a copy of the filed FBAR can help to satisfy the record keeping requirements. ')


Hope same applies to form 8938 - will try to search IRS page again


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## ForeignBody (Oct 20, 2011)

Pro.wolf said:


> Thanks byline for the FBAR guide link.
> 
> As per guide a copy of the submitted FBAR will satisfy the record keeping for FBAR - yeah, no bank statement printing for FBAR. ('...Retaining a copy of the filed FBAR can help to satisfy the record keeping requirements. ')
> 
> ...


I think you are mistaken. This is saying that you should keep the records (ie bank statements etc) used to produce the FBAR. You may, of course, save them electronically so that they are available to print, if required.


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## byline (Dec 5, 2011)

I agree, ForeignBody. The reference guide said that keeping past FBARs on file "can help to satisfy the record keeping requirements." My interpretation of that is that it supports the actual records one has of each account, not that it serves as a substitute for them.


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