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I became a permanent resident of the United States in mid-June of this year (2012). Before that I was on an F1 student visa. I was a non-resident for tax purposes throughout 2011.

I have an account in my home country of over $10,000. The deadline of for filing the FBAR (Report of Foreign Bank and Financial Accounts) is June 30th, and it holds for the previous year. (So had I filed the FBAR on June 30th of 2012, it would have been for 2011.) I hadn't filed the FBAR on June 30th of 2012 because I wasn't a "U.S. Person" in 2011. Was I correct for not filing it? I have recently taken a look at the penalties, and they are very scary.

Please answer only if you are certain of your answer.

Kathy
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If you were a resident for tax purposes before getting the green card (being on H1 or L1, for example, makes you "US Person" for tax purposes) - you should have been reporting then too.

Definition of "US Person" for the purposes of FBAR comes from 26 USC ยง 7701 (i.e.: the definitions' section of the US tax code).

I'd say file it if in doubt. The penalties are indeed very steep.

littleadv
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