FBAR & FATCA Filing Checker
US-based NRI? Enter your foreign account balances to see if you need to file FBAR (FinCEN 114) or FATCA (Form 8938).
What is FBAR?
The Foreign Bank Account Report (FBAR), officially FinCEN Form 114, is required if you have a financial interest in or signature authority over foreign financial accounts and the aggregate value exceeds $10,000 at any time during the year.
- Applies to: bank accounts, NRE/NRO accounts, fixed deposits, mutual funds, demat accounts, PPF, insurance policies with cash value
- Key rule: it's the aggregate maximum across all accounts — if your 3 accounts each had $4,000 max during the year, you must file ($12,000 total)
- Filed separately from your tax return (not with the IRS)
- Due: April 15, with automatic extension to October 15 — no need to request
What is FATCA?
The Foreign Account Tax Compliance Act (FATCA) requires reporting on IRS Form 8938, attached to your annual tax return. Thresholds are higher than FBAR and depend on your filing status and whether you live in the US or abroad.
- Single, in US: $50,000 at year-end or $75,000 at any time
- Married filing jointly, in US: $100,000 at year-end or $150,000 at any time
- Single, abroad: $200,000 at year-end or $300,000 at any time
- Married filing jointly, abroad: $400,000 at year-end or $600,000 at any time
- Covers: bank accounts, stocks, partnership interests, mutual funds, demat accounts, and other financial assets
FBAR vs FATCA: Key Differences
| FBAR (FinCEN 114) | FATCA (Form 8938) | |
|---|---|---|
| Threshold | $10,000 aggregate | $50K-$600K (varies) |
| Filed with | FinCEN (separate) | IRS (with tax return) |
| Deadline | April 15 (auto ext to Oct 15) | With tax return |
| Penalty | Up to $10K (non-willful) | $10K per form not filed |
Disclaimer: This tool provides general guidance only and does not constitute tax or legal advice. Filing requirements depend on your specific situation. Consult a qualified tax professional (CPA or EA with international tax experience) for personalized advice. Currency conversion rates are approximate.