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If you live in the US and hold NRE, NRO or FCNR accounts, fixed deposits, PPF or mutual funds in India, you may have to report them to the US every year. Check in a minute. Free, no sign-up.
General information, not tax or legal advice. Updated October 22, 2026.
| FBAR (FinCEN Form 114) | Form 8938 | |
|---|---|---|
| Who | US persons | US persons who must file an income tax return |
| Threshold | Combined highest balances over $10,000 at any time | Depends on filing status and where you live (below) |
| Filed with | FinCEN, online (BSA E-Filing) | Your income tax return |
| Due | April 15, automatic extension to October 15 | With your tax return, including extensions |
| Form 8938: more than | On December 31 | At any time in the year |
|---|---|---|
| Single, head of household or married filing separately, living in the US | $50,000 | $75,000 |
| Married filing jointly, living in the US | $100,000 | $150,000 |
| Single (etc.), living abroad | $200,000 | $300,000 |
| Married filing jointly, living abroad | $400,000 | $600,000 |
Priya, single, living in Texas on an H-1B: an NRO account peaking at $8,000 and a fixed deposit of $5,000. Combined highest balances: $13,000, so she files an FBAR. Her assets never pass $50,000, so no Form 8938.
Convert rupee balances to dollars using the US Treasury’s exchange rate for December 31 of the year.
If you hold a joint account with a parent, spouse or anyone else, count the full balance of the account, not just your share. This applies to the FBAR, and each joint owner also includes the full value for Form 8938. A joint account with a parent can therefore push you over the thresholds even if most of the money is theirs.
We work with Indian families in the US on both sides: Indian accounts and US reporting. Book a free briefing, or see our NRI / RNOR residency checker for the Indian side.
Sources: 31 CFR 1010.350 and FinCEN, BSA Electronic Filing Requirements for FinCEN Form 114; IRC section 6038D and Treas. Reg. 1.6038D-2; IRS, Comparison of Form 8938 and FBAR requirements.