This is the third of a series of four posts exploring some of the more difficult and “interesting” areas of (possible) FBAR obligations.The first post explains the FBAR filing obligations of trusts. The second post explains when individuals may have to file an FBAR because of their relationship to a trust. This third post explains how/why one may be required to file an FBAR based on control of an account rather than ownership of the account. The fourth post continues the discussion of when beneficial ownership without legal ownership triggers an FBAR obligation. The four posts are based on Podcasts with US tax lawyer Virginia La Torre Jeker.
Podcast 1: February 23, 2002 – FBAR Obligations Attaching To A Trust
Podcast 2: March 4, 2022 – FBAR Obligations Attaching To People Because Of Their Relationship To A Trust
Podcast 3: May 25, 2022 – Looking For Mr. FBAR – A New Sighting – ”exercised control over and had access to the account”
Podcast 4: September 29, 2022 – When ”Beneficial Ownership” Constitutes A Financial Interest And Triggers An FBAR Requirement