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A required U.S. report of foreign financial accounts whose total exceeds $10,000 at any point in the year.
The FBAR (FinCEN Form 114) must be filed by U.S. persons — including many visa holders — whose combined foreign financial accounts exceed $10,000 in aggregate at any time during the year. It is informational, not a tax, but penalties for failing to file can be severe. It is filed separately from your tax return.
An H-1B holder with $12,000 across Indian bank accounts must file an FBAR even though no extra tax is due.
Managing money on an H-1B visa involves unique challenges that most standard financial advice does not address: dual-country tax obligations, visa-dependent career planning, and investments that do not translate internationally.
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