# Bank Balance



## crisvic (Jan 25, 2020)

Good afternoon.. A friend (u.s.citizen living in Spain) recieved today 31/12/2020 his January S.S. pension, which he always gets on the 5th of each month, As his bank balance as of yesterday the 30th was around 8800euros, he was not planning on filing any FBAR this year. Now, today 31/12/2020 his bank balance is above the 10000$ threshold (at the actual exhange rates) due to his January pension having been paid today 31/12/2020.
As his January 2021 Pension was paid in 2020..should he file the FBAR?? I Guess so, but i,m not sure....would appreciate your opinion. Thanks for you help...and HAPPY NEW YEAR


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## Bevdeforges (Nov 16, 2007)

Really up to him. I know my husband's US SS payment appeared in his bank account today (but he's French and not subject to FBAR anyhow). 

Check first to make sure that the payment wasn't just made, but with a later payment date. If he can't access the money until January 4th or whatever, then there is no need to worry about it.

But there have been other instances of US SS paying the January payment in the last day or two of December. One other approach would be to see what gets reported on his 1099-SS document (should be received by March or April). See whether or not the year's total for tax purposes includes the "extra" month's payment or not. (FBARs are due at the same time as US tax returns.)

If the bank has your friend's US "tax identification number" (i.e. social security number), they generally only report the year end balance of the account to the IRS. However, there is little or no evidence that the IRS actually does much with the information that they receive from the foreign banks.


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## crisvic (Jan 25, 2020)

thanks so much.....to play it safe i think he should file his FBAR


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## Nononymous (Jul 12, 2011)

I can't imagine it possibly matters but if it makes someone sleep better at night, file the thing. Or not. This will not be noticed.


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## crisvic (Jan 25, 2020)

Thank you


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