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  1. Someone has foreign bank account or investment account and the balance of the account exceeds $10,000 at any time.
  2. Someone is an account signer on any foreign organization bank account that balance ever exceeds $10,000 at any time.     (Examples include being a signer for somethin something like your local church bank account, being a signer for local non-profits, and other things .

What do I need to do?

  • If neither  of of the above two situations apply to you, then you don’t need to do anything. (Reliant expects that most of our international missionaries staff will be in this category).
  • However, if you own or sign for an account that ever exceeds $10,000, then you will need to File Form TD F 90-22.1 with the IRS.
    • June 30 is the deadline for filing your Form TD F 90-22.1 with the IRS for the previous tax year.  
    • The Form must be filed every year.

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E-filing is a quick and secure way for individuals to file FBARs. Filers will receive an acknowledgement of each submission. Help with electronic filing technical questions is available at BSAEfilinghelp@fincen.gov or through the BSA E-Filing Help Desk at 866-346-9478.

Who Must File an FBAR (according to IRS regulations)?

A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.