Hello
Guest

Sponsored Links


Topic: FBAR threshold  (Read 1593 times)

0 Members and 1 Guest are viewing this topic.

FBAR threshold
« on: March 30, 2012, 12:03:23 PM »
Just out of curiosity, has the threshold for the FBAR always been $10,000?  Seems to me it should have risen with inflation, as they have raised other thresholds through the years.  $10,000 seems pretty low.


  • *
  • Posts: 550

  • Liked: 46
  • Joined: Jan 2012
Re: FBAR threshold
« Reply #1 on: March 30, 2012, 01:17:16 PM »
I think it's always been 10k. Not a large amount considering it's an aggregate. Incidentlay it's the same amount that U.S. customs and boarder protection use for the reporting of cash that is being imported/exported. U.S. Banks also have a responsibility to report cash transfers in excess of 10k too under the Bank Secracy Act (BSA). All reported back to the U.S. Treasury in one way or another.


Re: FBAR threshold
« Reply #2 on: March 30, 2012, 02:28:59 PM »
And a quick Google search reveals that a 1979 dollar is worth more than 5 today.  At that rate, if that's correct, the threshold should be $50,000, which sounds more reasonable.  (But 'reasonable' is not always their strong suit.)
And interestly, they have set the FATCA figure at $50,000.
I haven't lived in the US since 1989, so I always think dollars are worth so much more than they are.  I'm often astounded when people tell me the prices of things.

Edit: Sorry, I meant to write 1970.
« Last Edit: March 30, 2012, 05:47:12 PM by dani m »


  • *
  • Posts: 550

  • Liked: 46
  • Joined: Jan 2012
Re: FBAR threshold
« Reply #3 on: March 30, 2012, 02:41:55 PM »
It would relieve a headache for many if the FBAR threshold was increased...

BTW... The FATCA threshold is 50k for U.S. residents, (single). It's substantially more if you reside overseas.


Re: FBAR threshold
« Reply #4 on: March 30, 2012, 03:34:18 PM »
Yes, ...  by a longshot I am happily excluded. 


Sponsored Links





 

coloured_drab