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Forum: USA

Dec 30th 2022, 7:08 pm

Replies: 16

Uk pension filling USA taxes

Views: 1,820

Posted By Glasgow Girl

Re: Uk pension filling USA taxes

If the total value of your fund is £900 then you have no need to file an FBAR now or for prior years.. And since you had no income you are in full compliance with the IRS. You have no action to take...

Forum: USA

Dec 30th 2022, 2:51 pm

Replies: 16

Uk pension filling USA taxes

Views: 1,820

Posted By Glasgow Girl

Re: Uk pension filling USA taxes

If you have never received any income then you are in great shape! You have no unreported foreign income and therefore should qualify for the streamlined program that allows FBARs to be back filed...

Forum: USA

Dec 30th 2022, 2:41 pm

Replies: 16

Uk pension filling USA taxes

Views: 1,820

Posted By Glasgow Girl

Re: Uk pension filling USA taxes

You have to report almost all foreign assets on an FBAR and on Form 8938 if the aggregate balance of those accounts exceeds the thresholds. Those assets include savings, investments, life insurance...

Forum: USA

Dec 30th 2022, 2:25 pm

Replies: 16

Uk pension filling USA taxes

Views: 1,820

Posted By Glasgow Girl

Re: Uk pension filling USA taxes

If the pension has been paid to you at £900 a year then you should have been declaring it on your tax return, and if/when the cumulative value exceeded $10,000 in a foreign account then you should...

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