FBAR and Form 8938 for Indian accounts
If you kept bank accounts in India, two separate US reports may apply. Here are the thresholds and deadlines from the IRS and FinCEN, and what the RBI says about NRE and NRO accounts.
Facts checked Oct 25, 2026
You file an FBAR (FinCEN 114) if your foreign accounts together were over $10,000 at any time in the year; it is due April 15 with an automatic extension to October 15, filed on FinCEN’s BSA E-Filing site. Form 8938 has higher thresholds and goes with your tax return. Both can apply.
FBAR and Form 8938 side by side
| FBAR (FinCEN 114) | Form 8938 | |
|---|---|---|
| Who | Combined foreign accounts over $10,000 at any time | US residents above the thresholds below |
| Threshold, single | $10,000 | Over $50,000 at year end or $75,000 at any time |
| Threshold, married filing jointly | $10,000 | Over $100,000 at year end or $150,000 at any time |
| Where | FinCEN BSA E-Filing | With your tax return |
An FBAR is required if the combined value of foreign accounts you have a financial interest in or signature authority over exceeded $10,000 at any time in the year.
Source: irs.gov ↗as of Oct 25, 2026
FBAR is due April 15 with an automatic extension to October 15. It is filed on FinCEN BSA E-Filing, not with the tax return.
Source: bsaefiling.fincen.treas.gov ↗as of Oct 25, 2026
Form 8938 thresholds for US residents: single or married filing separately, over $50,000 at year end or $75,000 at any time; married filing jointly, over $100,000 at year end or $150,000 at any time. FBAR and 8938 are separate and both can apply.
Source: irs.gov ↗as of Oct 25, 2026
Which Indian products count and how they are taxed (PPF, mutual funds, insurance) is a question for a licensed CPA or EA.
Source: irs.gov ↗as of Oct 25, 2026
NRE and NRO accounts
An NRI can open an NRE account with money sent from abroad; the funds can be taken back out of India (repatriated).
Source: rbi.org.in ↗as of Jan 16, 2025
NRO principal generally cannot be repatriated except up to USD 1 million per financial year (April to March); current income and interest can be.
Source: rbi.org.in ↗as of Jan 16, 2025
India exempts NRE interest from Indian tax, and NRO income is taxable in India. US tax treatment is separate; check with licensed professionals in both countries.
Source: rbi.org.in ↗as of Jan 16, 2025
Questions people ask
Do I need to file FBAR for my Indian bank account?
If all your foreign accounts together were over $10,000 at any time in the year, the IRS says an FBAR is required. A CPA or EA can confirm for your situation.