What is the FBAR? FBAR is the acronym of Report of Foreign Bank and Financial Accounts, otherwise know as ‘FBAR’. The Bank Secrecy Act (BSA) gave the Department of the Treasury authority to collect information from U. S. persons who have financial interests in or signature or other authority over financial accounts maintained with financial institutions located outside the United States. This provision of the BSA requires that U.S. persons… Read More
Paul S. Joo CPA
Orange County CA CPA