FBAR

Ok, so if I set up my checking account to have the Daughter able to write checks on it, but not own the account proper, does she need to do a FBAR if I had to do one? (I know we have until Oct 15, but just came across the checkbook of checks in her name that I'd forgotten about.) I'm assuming that would be "yes"?

Ok, so if I set up my checking account to have the Daughter able to write checks on it, but not own the account proper, does she need to do a FBAR if I had to do one? (I know we have until Oct 15, but just came across the checkbook of checks in her name that I'd forgotten about.) I'm assuming that would be "yes"?

If the total of her overseas accounts plus any in your name that you give her signatory authority (check-writing authority) over exceeds $10,000 at any point in the year, she will need to file FBAR.

If her other accounts plus that one never exceed a total of $10,000, she will not need to file FBAR even if you have other accounts that, when added to the shared account exceeds $10,000.

The question is, "does the total of all the accounts that Daughter has access to exceed $10,000?"  If yes, file FBAR.  If no, do not file FBAR.

If the total of her overseas accounts plus any in your name that you give her signatory authority (check-writing authority) over exceeds $10,000 at any point in the year, she will need to file FBAR.

If her other accounts plus that one never exceed a total of $10,000, she will not need to file FBAR even if you have other accounts that, when added to the shared account exceeds $10,000.

The question is, "does the total of all the accounts that Daughter has access to exceed $10,000?"  If yes, file FBAR.  If no, do not file FBAR.

I agree with this.

Ok, so if I set up my checking account to have the Daughter able to write checks on it, but not own the account proper, does she need to do a FBAR if I had to do one? (I know we have until Oct 15, but just came across the checkbook of checks in her name that I'd forgotten about.) I'm assuming that would be "yes"?

Sounds like this has not happened yet (you said “if I set up) so your daughter would not need to file an FBAR until 2020 to report accounts she has in 2019,  which is loads of time because you will know exactly the totals of the 2019 accounts by end of January 2020 when the Treasury issues its Dec 31st exchange rates.

The figures you will be totalling are the highest balances of each of the accounts at any point during the calendar year.

Thanks, all.

I don't remember if I gave her signing on just my checking or on my checking and savings. If it's just checking, she's fine as she has almost nothing in her own account yet.  It was my savings account that made me have to do the FBAR.

If it's that she has authority for my checking and savings, she'll need to do the FBAR.  So I know what date mine threw me over into the FBAR. I need to find out if she's got authority on my savings account. If so, she needs to check her statements for the date that triggered my FBAR  and fill out the form.

EDIT:  No problems, she's not on the savings account.  Although, thinking about it, she probably should be.