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Three things to know about the FBAR
As a U.S. citizen, you may have to file an annual “Report of Foreign Bank and Financial Accounts” (FBAR) with the U.S. Treasury Department. Existence of such an account or accounts must be reported on schedule B of IRS form 1040, as well as interest earned from such accounts. Make an appointment with us at GKM for more information on FBAR and our range of tax preparation & consulting services.