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jlpaetsch87
April 10, 2022
Question

Account Interest On Foreign accounts

  • April 10, 2022
  • 1 reply
  • 0 views

Good Afternoon, 

My husband happens to be a Legal Alien with a green card. However, I am currently doing our taxes and he has some foreign accounts that are gaining interest. Since he is not a US Citizen do we have to claim that on our taxes? 

    1 reply

    DaveF1006
    DaveF1006
    April 11, 2022

    No he will not need to report interest accruing in foreign accounts on a tax return. There may be a FBAR filing requirement as well as a  FATCA requirement in reporting Foreign Accounts.  Here are a couple of links for you to review for future reference.

     

    IRS FBAR Requirements         IRS FATCA Requirements      

     

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