BrianLR

I shared signature authority over two of my mother's UK bank accounts for less than three months in 2013 just prior to her death. At no time did I actively use that authority, do these accounts need to be reported on my the 8938 form I have to submit for my own accounts or on the new FBAR FINCEN 114 form?

I have a UK Building Soc eBond maturation account that was empty for the entire year 2013 following the end of the eBond and withdrawl of funds in 2012, do I need to declare such an empty account on either FBAR / 8938 forms?

JAJ

As I understand it, if you have signature authority over an account (but no beneficial interest) it needs to be reported on FBAR but not on form 8938.

Do you have an interest in your mother's estate? That may be reportable on form 8938. Also, even though the inheritance itself won't be taxable income, any income generated within the estate may be.

Your U.K. building society account. When you withdrew the funds, was the account closed? If so, it doesn't need to be reported for 2013.

Also - and condolences re. your mother, by the way - if you received an inheritance over $100k there may be a form 3520 to fill (information report only). And check your state's laws, most states don't have an inheritance tax on amounts received, but a few do.

nun

+1

BrianLR

The account is still showing on my statements so I guess it not actually closed, but as there have been no funds in it during 2013 there is no tax implication so I guess it does not need to go on the 8938 but does go on the FBAR form?

JAJ

So is the account open to new transactions or not? If yes, you probably need to report it (and close it). If it's not open to new transactions then it may be an option to take the view that it is already closed.