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If I file an FBAR, does that fulfill my fatca filing requirements?

No; if you are not required to file an income tax return for a specific year, then the requirement to file Form 8938 also falls away, no matter what foreign assets you held during the year.

FORM 8938, STATEMENT OF SPECIFIED FINANCIAL ASSETS

FORM 114 REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS (FBAR)

Reporting Threshold (Total Value of Assets)

$200,000 on the last day of the tax year or $300,000 at any time during the tax year (for single taxpayers living outside the US)

$10,000 equivalent at any time during the calendar year

Reportable Financial Assets

Include also foreign stock or securities not held in a financial accounts, foreign partnership/corporation interests, foreign hedge funds and foreign private equity funds.

Include also Foreign financial account over which you have signature authority but no financial interest and indirect interest in foreign financial assets through an entity.

Maximum account and asset values

Fair market value converted to USD using the year-end exchange rate.

Maximum value during the tax year, converted to USD using the year-end exchange rate.

Method of filing

Filed together with the income tax return.

Filed electronically through the FinCEN's BSA e-filing system

Due date

The filing deadline of the income tax return.

April 15th with an automatic extension until Oct 15th.

See FBAR and FATCA for further information.

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