You may be required to report the account to the Department of the Treasury.
Any United States person who has a financial interest in or signature authority over any financial account(s)located outside of the United States is required to electronically file a Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year. Report by 6/30/13. No extension of time to file is available and a penalty of up to $10,000 can be asserted for each failure to file.
To comply with this law:
• Answer FBAR-related questions on federal tax and information returns. For example: Check the block
on Form 1040 Schedule B, Part III.
• Complete electronic version of Form TD F 90-22.1.
• E-file the completed form using the FinCEN electronic filing system available at http://www.fincen.gov
• The FBAR must be e-filed by June 30 of the year following the calendar year being reported.
For assistance complying with the law:
Visit http://www.IRS.gov or http://www.fincen.gov to view the electronic version of the FBAR and related
information. For assistance with completing the FBAR, call 866-270-0733 (for callers within the
U.S.) or 313-234-6146 (for callers outside the U.S.). Questions regarding the FBAR can be sent to