1-The FBAR that's due on June 30, 2015 only applies to the 2014 calendar year financial activity?
(I know this sounds obvious, but the penalties are so scary that I feel compelled to double-check)
2-$10,000 aggregate at any one time? or $10,000 aggregate sum of maximum account values?
For example:
Account 1 Max. Value: $3500
Account 2 Max Value: $3500
Account 3 Max Value: $3500
SUM OF MAX VALUES: $10,500
BUT, in any one day (and even in any one month) the max. value was never over $10,000 since all accounts fluctuated.
The form asks for "maximum account values." When added the sum goes over $10,000 (as above) even though aggregate was never over $10,000 in any month or day.
(I know this sounds obvious, but the penalties are so scary that I feel compelled to double-check)
2-$10,000 aggregate at any one time? or $10,000 aggregate sum of maximum account values?
For example:
Account 1 Max. Value: $3500
Account 2 Max Value: $3500
Account 3 Max Value: $3500
SUM OF MAX VALUES: $10,500
BUT, in any one day (and even in any one month) the max. value was never over $10,000 since all accounts fluctuated.
The form asks for "maximum account values." When added the sum goes over $10,000 (as above) even though aggregate was never over $10,000 in any month or day.
Federal Taxes: FBAR Aggregate Value Requirements
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