IRS Annual Average Exchange Rate
#16
Heading for Poppyland










Joined: Jul 2007
Posts: 17,508
From: North Norfolk and northern New York State











https://www.irs.gov/businesses/small...-accounts-fbar
“The FBAR is an annual report, due April 15 following the calendar year reported. You’re allowed an automatic extension to October 15 if you fail to meet the FBAR annual due date of April 15. You don’t need to request an extension to file the FBAR. “
#17
Just Joined
Joined: Sep 2023
Posts: 19

I did check the IRS website but couldn't find anything that would help with my question ... last year the investments I have were transferred from one UK company to another UK company. Do I have to fill out the FBAR form showing both companies? And, wouldn't that then show I had twice the amount of investments that I actually have?
Thank you for any help!
Thank you for any help!
#18
Yes, you should report both accounts. The FBAR is reporting only, and will be automatically filed without anyone ever looking at it unless you are a person of interest to the IRS for other reasons in which case you will have ample opportunity to explain the transfer. Likely no human will ever look at it. Nevertheless it is importantly to report ALL accounts each year even if closed during the year.




