Do I need to file FBAR if I send $25000 to my fathers account in India?


Do you have signature authority or interest in the account? Then yes.

Interest in the account means that you wire $25K to your dad, but the money still belongs to you (I.e.: if you ask for it your dad will give it back to you).

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  • How can interest in account be officially proved ? – JavaDeveloper Jul 27 '15 at 5:33
  • @JavaDeveloper you never know who might agree to testify against you. – littleadv Jul 27 '15 at 6:31
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    @JavaDeveloper You have an interest in the account if you are listed as a co-owner of the account along with your parents. This is a very common practice in India. Signature authority means that you can operate the account too, withdrawing money from it, or transferring it elsewhere. In India, it is common practice that a bank will allow only the first-named account holder to operate the account, but legally, you have an interest in the account as well as signature authority even though the bank will fight tooth-and-nail against allowing the latter. – Dilip Sarwate Aug 7 '16 at 16:06

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