What is the FBAR and how does it impact me as a US person. The FBAR is an informational return - not a tax return. It is a byproduct of the Bank Secrecy Act, which was enacted in 1970 out of concern that financial institutions in tax haven jurisdictions were being used by U.S. persons to hide the proceeds of their illegal activities. Watch video to learn more about the history of the FBAR.
Read more about the FBAR at: http://www.taxsamaritan.com/tax-preparation/expatriate-tax/fbar/
