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I am aware that if my foreign account holds a balance exceeding $10K I have to report it in FBAR when filing income tax. This became a hassle, so I closed it in mid-2014, and reported the account and whatever interest income I earned on it before its closure, when I filed in 2015 (for the year ending 12/31/2014).

My question is: since I haven't had any foreign bank account during the whole of 2015, can I simply not report anything when filing this year (2016)? Do I have to somehow report that it was closed and that's why I am not reporting it? I have all the necessary documentation from the SBI NRI branch that shows it was closed. Thanks for your advice.

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Just don't list it any more. No special reporting needed. Check if there's a checkbox for "account was closed this year" somewhere, I vaguely remember there used to be.

  • Thanks, this checkbox you are referring to is in which form? Do you remember that? Is that form 1040, or FBAR, or something else? It can't be FBAR I guess, otherwise it means I need to file FBAR. – squashed.bugaboo Jan 26 '16 at 23:15
  • I remember seeing it on form 8938, but I don't think its there now. Not sure if I made it up or they removed it. in any case, you only report accounts you have during the year, obviously. – littleadv Jan 27 '16 at 4:49

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