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[AccTaxMan]

Is anyone here familiar with the Foreign Bank Account Report (FBAR or TD F 90-22.1)?

Husband and wife has a foreign joint account and the balance was once over $10,000 in 2011.

Wife has a foreign joint account with her brother and the balance was once over $10,000 in 2011.

In the FBAR filed by the husband, he of course will list the joint account with his wife.

Does the wife have to file a separate FBAR for the joint account with brother? I do not see anywhere in the FBAR of the husband where he can list the joint account that his wife owns with her brother.

[ttbtaxes]

I know almost nothing about FBAR but be mindful that in addition to the TD F 90-22.1 you might also have to file Form 8938.

Penalties for failure to file either are unthinkable.

http://www.irs.gov/pub/irs-pdf/i8938.pdf