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Putting Pension on FBARS

 
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drcrazy



Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan

PostPosted: Fri Feb 22, 2019 8:40 am    Post subject: Putting Pension on FBARS Reply with quote

Americans, have you been putting pension of FBAR? I was once told that because it is like social security in USA it is not required. But now I am not so sure.
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PRagic



Joined: 24 Feb 2006

PostPosted: Tue Feb 26, 2019 1:09 am    Post subject: Reply with quote

I'm not there yet, but as far as I know the FBAR is simply reporting the amount(s) in your account(s) if it (they) total more than 10K at any time over the course of the fiscal year.

If you earn interest on the money in the account, that may have to get reported.

If you check with a tax pro, please let us know what you find out!
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PRagic



Joined: 24 Feb 2006

PostPosted: Wed Mar 20, 2019 9:10 pm    Post subject: Reply with quote

Might need to file the 2555EZ and the Schedule 1 (other income).
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