Interest reporting questions

You have an account opened last yr but interest is NOT paid until 2011.  You list the account on the FBAR form but do not need to put the interest on schedule B
(which was $0).  Won't the IRS match FBAR form with schedule with B and wonder why no interest was declared.  Should you add a note stating interest is paid annually?

FBAR has to do with bank accounts, not interest.

You could have a bank account that never earns interest - e.g. a current account - and you still have to report it on FBAR if the money in all your accounts totals at least $10,000.

Two different things.

I don't think it's a problem.

If your totals are $10,000 do you have to pay US tax on it or just report it?

Just report it, whether you pay tax is based on interest earned rather the amount in the account.

ah right ok thats reassuring

ah right ok thats reassuring

I think what you meant is disturbing.  Whilst it's reassuring that you aren't violating any laws, the disturbing part is that some of these laws exist at all.    ;)Just my completely unrelated two pence. 

I think what you meant is disturbing.  Whilst it's reassuring that you aren't violating any laws, the disturbing part is that some of these laws exist at all.    ;)Just my completely unrelated two pence. 

Haha yea I know what you mean, and yes I agree that its distrurbing that some of these laws exist!