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US Corp Owning Foreign Subsidary Required to File FBAR?

Tax Explorer
Level 4

Is a US corporation that owns 100% of a foreign subsidary that in turn owns an offshore foreign bank account required to file an FBAR?

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1 Best Answer

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sjrcpa
Level 15

Yes.

The more I know, the more I don't know.

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2 Comments 2
sjrcpa
Level 15

Yes.

The more I know, the more I don't know.
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Tax Explorer
Level 4

As if filing the Form 5471 isn't enough 😆