Report of Foreign Bank and Financial Accounts
If you have a financial interest in a signature authority over foreign financial account including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account. You are required to file form TD F 90-22.1
Who Must File an FBAR
US taxpayers are required to file an FBAR if:
they have a financial interest in or signature authority over at least one financial account located outside of the United States; and
the total value of all foreign financial accounts is more than $10,000 at any time during the calendar year reported.
United States person includes U.S. citizens; U.S. residents; entities, including but not limited to corporations, partnerships, or limited liability companies, created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.