FBAR compliance

Report of Foreign Bank and financial accounts is very important when a person has a financial interest in or signing authority in a foreign financial account, be it a Bank account, Mutual fund, Other Investments or a Trust.

FBAR reporting has to be done on yearly basis to the IRS.Non-reporting leads to huge civil, criminal and fraud penalties and foreign information return penalties.

Reportable Financial accounts on FBAR are

  • Bank accounts (Savings, Current, FDs, etc.)
  • Securities or Brokerage account
  • Account with a person that acts as a broker or dealer for Futures or Options transactions
  • Account with a person in the business of accepting deposits as a financial agency
  • Insurance or Annuity policy with cash value (LIC / ULIP)
  • PPF / PF
  • Shares in Mutual funds or similar pooled fund
  • Gold kept in a locker provided by the bank

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Enquire now about the sale of property in India by NRIs




    Thank you all for your patience with the bank’s queries and for continually following this up with them to ensure it was all properly completed. It is a pleasure interacting with a team of thorough professionals.
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    I appreciate you and your firm for clarifying all my doubts throughout this process. I look forward to work with you more closely in future.
    NRI from UK on our Repatriation Services

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