Question

Is a bank account in a foreign country considered a financial asset

Forum|Forum|1 year ago
February 27, 2025
1 reply
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@velinos short answer is YES

For FBAR purposes it is generally any financial account you own or have signature authority over ( in some countries you cat as a nominee ).

For FATCA purposes Specificized financial Assets include all semi liquid accounts including monies held by your broker/agent for re-investing.

Hope this answers your query