FBAR and FATCA Filing

• FBAR : Foreign Bank Account Report


• FATCA : Foreign Account Tax Compliance Act

A United States person, including a citizen, resident Alien those who are in H1b and L1 and green card holders, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report: NOTE: Non Resident aliens no need to report FBAR and FATCA a financial interest in or signature or other authority over at least one financial account located outside the United States. if the aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.