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FBAR

21 / 06 / 2015 by Greg Freyman, CPA in Personal Tax

Do Children Need To File FBAR Forms?

Question:
My entire family moved from a foreign country to US during 2014. I have two children. They each had foreign accounts exceeding $10,000 during the year. One child left funds in a foreign account. The other child brought all the money to the US, so closed the account in Belgium and opened in the US. Do they need to file the FBAR forms?

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