# Do I have to report foreign bank accounts?

Canonical: https://theretirementdecisionlab.com/answers/do-i-have-to-report-foreign-bank-accounts/
Section: Where does your money work hardest? (Retirement Decision Lab, Decision 3 · Week 3 · Wed Nov 18)
Facts checked: 2026-10-06 · Next review by: 2027-04-06
Reviewed by: Todd Allyn, Founding Director, Sovereo Intelligence Research

## Short answer

Yes, once they are large enough. If your foreign accounts together top $10,000 at any time in the year, you file an FBAR (FinCEN 114), due April 15 with an automatic extension to October 15.

## Detail

Larger balances may also require Form 8938 with your tax return. For people living abroad, the threshold is more than $200,000 at year end or $300,000 at any time (single), and double that for married couples filing jointly.

These are reports, not taxes. The penalties for not filing can be far larger than any tax owed, so they are worth getting right.

## Where it gets personal

Week 3 counts paperwork and compliance in the cost of each place. The Retirement Decision Lab: https://theretirementdecisionlab.com/

## Sources

1. Report of Foreign Bank and Financial Accounts (FBAR), IRS: https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar
2. Comparison of Form 8938 and FBAR requirements, IRS: https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

Education only. Not financial, tax, investment, immigration or legal advice.
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