Do Expats File an FBAR - Are Expats Required to Report Foreign Accounts & Assets

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Are Expats Required to File FBAR

Yes, if a US Person resides outside of the United States and maintains foreign bank and financial accounts or assets sufficient to have to disclose their value on the various international information reporting forms such as the FBAR -- then they are still required to file. It is different when a person formally expatriates from the United states and relinquishes their US person status; then they are generally not required to file an annual FBAR -- unless they own a domestic entity that maintains foreign accounts for example. In other words,  just because a US Person resides outside the United states as an expat does not negate their FBAR filing requirement. If the Expat is married to a foreign spouse who is considered a nonresident alien, then the foreign spouse generally does not have to file the FBAR -- even if an election is made to file their tax return together -- since that requirement does not generally extend to FBAR, although it may extend to Form 8938 requirements.