AxialTilt Posted July 28, 2015 Report Posted July 28, 2015 I just came to know about the FBAR form and I have a couple of questions regarding that. I saw on IRS website that we are supposed to file the FBAR if we have a foreign account with aggregate value of 10,000$ in a calendar year. 1. I have an account in India that has more than 10,000$. So, it means that I have to file the FBAR form. Please correct me if that is not the case. 2. Now, after we file this form with IRS, will I incur any taxes here in the US for the interest earned on that account in India? Please clarify Thanks!
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