Any U.S. citizen or Green Card Holder with a bank or financial account outside the US should review the filing requirements carefully. The need to file includes those who have no financial interest in an account but do have signature authority over an account. If the aggregate balance of all accounts exceeds $10,000 or assets exceed $50,000 on the last day of the calendar year, the form must be filed.
- This includes: U.S. citizens, residents, U.S. entities, corporations, partnerships, or limited liability companies and certain trusts.
- Foreign (Non-US) Financial Accounts include bank accounts, Brokerage Accounts, Mutual Funds, Trusts, Pensions and other types of foreign financial accounts.