# FBAR questionnaire: foreign account questions for FinCEN Form 114 and Form 8938

[Home](/) / [Tax organizers](/templates/tax-organizers) / Foreign accounts (FBAR)

By [Arthur Teboul](/authors/arthur-teboul), Founder, DokuTrak. Published 2026-11-04, updated 2026-11-04.

> **In brief:** An FBAR questionnaire asks a client about every financial account held outside the United States, then collects what FinCEN Form 114 reports for each one: the institution, the account number, the type and the maximum value. It also screens for Form 8938, which covers a wider set of foreign assets.

## The organizer: Foreign accounts questionnaire (FBAR and Form 8938)

**Not advice.** This page is general information, not tax, legal or HR advice. Rules change: check the cited source and ask your own professional before you rely on it. Last reviewed October 25, 2026.

Answer the screening questions first. If every answer is no, sign and return the page.

Fill in one account row for each foreign account, including accounts you could sign on but do not own.

Give balances in the account’s own currency. Your preparer converts them to dollars.

### Screening

Based on: IRS FBAR page; FinCEN Form 114

- At any time in the year, did you own a bank, brokerage or other financial account outside the United States? If yes, send: December statement for each account.
- Did you have signature authority over a foreign account you do not own, such as an employer’s or a relative’s? If yes, send: Name of the account owner; Account details.
- Did the highest balances of all your foreign accounts, added together, go above $10,000?
- Is any foreign account held jointly with your spouse? If yes, send: Name of the joint owner; Signed FinCEN Form 114a, if one spouse files for both.
- Do you own more than half of a company, or act as grantor of a trust, that holds foreign accounts? If yes, send: Name of the entity; Its account statements.

### Each account (one row per account)

Based on: FBAR recordkeeping requirements

- Name on the account
- Name and address of the financial institution
- Account number
- Type of account: bank, securities or other
- Currency of the account
- Highest balance during the year, in that currency If yes, send: Statement showing the highest balance.
- Balance on the last day of the year
- Was the account opened or closed during the year? If yes, send: Opening or closing statement.

### Accounts and assets that are easy to miss

Based on: Comparison of Form 8938 and FBAR requirements

- Do you hold a foreign life insurance policy or annuity with a cash value? If yes, send: Annual policy statement showing the cash value.
- Do you hold foreign mutual funds or exchange-traded funds? If yes, send: Fund statements; Purchase and sale confirmations.
- Do you have an account at a foreign branch of a U.S. bank? If yes, send: Statements for the account.
- Do you have a pension or retirement account with a foreign employer or fund? If yes, send: Annual pension statement.
- Do you own foreign stock or securities outside any account? If yes, send: Share certificates or registry statement.
- Do you own part of a foreign partnership, hedge fund or private equity fund? If yes, send: Annual investor statement.

### Form 8938 test

Based on: Form 8938 thresholds (comparison table)

- Where did you live during the year: in the United States or abroad?
- Total value of all foreign financial assets on the last day of the year
- Highest total value at any time during the year

### Income and earlier years

Based on: Form 1040; Form 8621; IRS FBAR page

- Did the foreign accounts earn interest or dividends, or did you sell investments held in them? If yes, send: Annual income or tax statement from each institution.
- Was foreign tax withheld or paid on that income? If yes, send: Statement showing the foreign tax.
- Did you file FBARs for every earlier year that needed one? If yes, send: Copies of filed FBARs or their filing confirmations.
- Did you attach Form 8938 to earlier returns? If yes, send: Copies of the filed Forms 8938.
- Have you received an IRS or FinCEN letter about foreign accounts? If yes, send: Copy of each letter.

Download: [PDF, fillable](https://dokutrak.com/downloads/pseo-v2/f3-tax-organizers/foreign-accounts-fbar.pdf) · [Word](https://dokutrak.com/downloads/pseo-v2/f3-tax-organizers/foreign-accounts-fbar.docx) · [Excel tracker](https://dokutrak.com/downloads/pseo-v2/f3-tax-organizers/foreign-accounts-fbar.xlsx)

## Who has to answer the screening question

A U.S. person files an FBAR when they have a financial interest in, or signature authority over, at least one account outside the United States and the combined value exceeded $10,000 at any time in the year ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). U.S. persons include citizens and residents, and also corporations, partnerships, LLCs, trusts and estates ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). Whether the account earned taxable income has no effect on the test ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)).

Two terms shape the answers. **A financial interest** means you are the owner of record or holder of legal title, or the owner of record acts for you, or you hold enough of the entity that owns the account ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). **Signature authority** is the power to control the assets in the account by direct communication with the institution ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)).

Some accounts are left out. Examples include accounts held in an IRA you own, accounts in a retirement plan you take part in, and accounts on a U.S. military banking facility ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). Spouses who jointly own every foreign account can have one spouse report them, if the other signs FinCEN Form 114a ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)).

## What the preparer needs for each account

For each reportable account, the records must show the name on the account, the account number, the name and address of the foreign bank, the type of account and the maximum value during the year ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). The law does not name a document, and bank statements are one way to show it ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). That is why the questionnaire has one row per account and asks for the December [bank statement](/documents/bank-statement) plus the one with the highest balance.

The **maximum value** is the highest balance in the year, read from the periodic statements in the account’s own currency ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). The preparer then converts it to dollars at the end-of-year exchange rate ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). The client only supplies the figure and the currency, for example a balance in euros, not the conversion.

## FBAR, Form 8938 or both

Form 8938 is the Statement of Specified Foreign Financial Assets, and it goes with the income tax return ([IRS, About Form 8938, Statement of Specified Foreign Financial Assets](https://www.irs.gov/forms-pubs/about-form-8938)). The FBAR is filed electronically through the BSA E-Filing System, separately from the tax return ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). The same client can owe both, one, or neither, depending on what they hold. The table shows how the IRS sorts common assets ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)).

For a specified individual living in the United States, Form 8938 applies above $50,000 on the last day of the year or $75,000 at any time, if unmarried ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). For married couples filing jointly in the United States, the thresholds are $100,000 and $150,000 ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). For those living abroad, they rise to $200,000 and $300,000 unmarried, and $400,000 and $600,000 joint ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)).

| Asset | Form 8938 | FBAR |
| --- | --- | --- |
| Deposit or custodial account at a foreign institution | Yes | Yes |
| Account at a foreign branch of a U.S. institution | No | Yes |
| Foreign account with signature authority only | No, unless you also have an interest | Yes, with exceptions |
| Foreign stock held outside any account | Yes | No |
| Foreign mutual funds | Yes | Yes |
| Foreign life insurance or annuity with a cash value | Yes | Yes |
| Foreign real estate held directly | No | No |

## Foreign funds and other answers that need a closer look

Some answers send the preparer beyond the FBAR. A foreign mutual fund is reportable on both forms ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)), and a shareholder of a passive foreign investment company may also need Form 8621 ([IRS, About Form 8621](https://www.irs.gov/forms-pubs/about-form-8621)). The questionnaire asks for fund statements and the purchase and sale confirmations, so the preparer can check.

Ownership through an entity is the other trap. For the FBAR, an indirect interest counts when you hold more than 50 percent of the entity that owns the account ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). Foreign partnership interests and foreign hedge or private equity funds sit on Form 8938 but not on the FBAR ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). The questionnaire asks about holdings such as companies, trusts and funds by name.

## Due date, extension and how long to keep records

The FBAR is due April 15 after the calendar year it reports, with an extension to October 15 that needs no request ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). Individuals can file it through BSA E-Filing without registering as a filer ([FinCEN, Report Foreign Bank and Financial Accounts](https://www.fincen.gov/report-foreign-bank-and-financial-accounts)). A client who wants the preparer to file signs FinCEN Form 114a, which is kept on file and not submitted ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)).

Records are kept for five years from the FBAR due date ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). The questionnaire asks whether FBARs were filed for the past years, because a missing year is a separate conversation with the preparer. Send copies of any filed FBARs or their filing confirmations.

## Questions people ask

### Who must file an FBAR?

A U.S. person with a financial interest in, or signature authority over, accounts outside the United States files when the combined value exceeded $10,000 at any time in the year ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)).

### Is the FBAR filed with my tax return?

No. The FBAR is filed electronically through FinCEN’s BSA E-Filing System, separately from the federal tax return ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)). Form 8938, by contrast, is attached to the income tax return ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)).

### How do I figure the maximum value of a foreign account?

Use the periodic statements to find the highest balance in the account’s currency ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)). The amount is then converted to U.S. dollars at the end-of-year exchange rate ([IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements)).

### When is the FBAR due?

It is due April 15 after the year it reports, with an extension to October 15 that you do not have to request ([IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar)).

## Sources

- [IRS, Report of Foreign Bank and Financial Accounts (FBAR)](https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar): Who files, the $10,000 aggregate test, the exceptions, Form 114a, the April 15 due date and October 15 extension, BSA E-Filing and five-year recordkeeping.
- [IRS, Comparison of Form 8938 and FBAR requirements](https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements): Financial interest and signature authority, Form 8938 thresholds, maximum value and conversion, where each is filed, and which asset types each form covers.
- [IRS, About Form 8938, Statement of Specified Foreign Financial Assets](https://www.irs.gov/forms-pubs/about-form-8938): Form 8938 is the statement of specified foreign financial assets.
- [IRS, About Form 8621](https://www.irs.gov/forms-pubs/about-form-8621): Form 8621 is the information return of a shareholder of a passive foreign investment company or qualified electing fund.
- [FinCEN, Report Foreign Bank and Financial Accounts](https://www.fincen.gov/report-foreign-bank-and-financial-accounts): Individuals may file their FBAR through the BSA E-Filing System without registering.

## More on this topic

- [Client tax organizer (individual return)](/tools/document-checklist/tax-organizer)
- [Bank statement](/documents/bank-statement)
- [Investment statement](/documents/investment-statement)
- [Client tax questionnaire](/templates/tax-organizers/tax-questionnaire)

## About the author

Arthur Teboul (Founder, DokuTrak) is building DokuTrak after watching professionals lose hours chasing clients for documents over email. [Arthur Teboul](/authors/arthur-teboul).

How this page was made (methodology): it is built from the primary sources listed under Sources, and every rule and figure on it links to the source it comes from. Last updated October 25, 2026. Spotted an error or a rule that changed? [Contact us](/contact).

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