Re:Why expat Americans are giving up their passports
by thisone on Wednesday February 10, 2016 @02:05PM
(#11075113)
The issue with the FBAR is the transfer of the money from the house into a bank account.
If the money was in an account with the US citizen's name on it for any amount of time, such that the sum of all accounts with the citizen's name was over $10,000, all accounts must be reported.
If the money was in an account with the US citizen's name on it for any amount of time, such that the sum of all accounts with the citizen's name was over $10,000, all accounts must be reported.