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I am about to file FBAR. I see 3 tabs in FBAR form where account information is to be entered - separate/joint account, no financial interest, consolidated report.

I have some mutual fund units (MFs) and money in NRO account in India which exceeds $10,000. In case of MFs I have not earned anything (no interest as such). Since this is my first time to file FBAR, I am a little confused as to which tab suits my case most. From what I read IRS website, all this info would go in separate/joint account tab and no financial interest and consolidated report will go blank in my case.

Especially I am confused about the word "interest" in the tab - do they mean interest as in "I have earned interest on my investment" or "I don't have interest in reading non-fiction".

FBAR form Tabs

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"No financial interest" means that you have signing authority over the account, but you don't own the money in it and aren't allowed to withdraw from it at will. One example would be a business account owned by a company where you're employed as a purchasing manager, and you need to sign checks drawn on that account to pay invoices.

FBAR doesn't care about income -- it just wants to know about every account that you having signing authority over.

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