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Archive by Month: April 2017

What is the FBAR Used For?

Offshore Account Update

Posted on April 28, 2017

FBAR stands for Report of Foreign Bank and Financial Accounts. The FBAR is a report that has to be made annually if you have more than $10,000 in any combination of offshore bank accounts that you either own or have signature authority on. If the combined balances of any offshore financial accounts exceed $10,000 at any time during the year, FBARs must be filed.

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