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Filing Report of Foreign Bank and Financial Accounts (FBAR) individually. So, if spouse A and spouse B are joint owners of an account they have a financial interest in, will both the FBARs of person A and person B need to show that account?
Or can just spouse A show that account under spouse A where it also lists the spouse B as a joint owner and then not show that specific account in spouse B's form since it's already counted once and including it again would make the same money count twice?
Looking at https://www.fincen.gov/filing-spouse it seems there are certain conditions in which only one filer needs to file the FBAR, namely
The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met:
(1) all the financial accounts that the non-filing spouse is required to report are jointly owned with the filing spouse;
(2) the filing spouse reports the jointly owned accounts on a timely filed FBAR electronically signed; and
(3) the filers have completed and signed Form 114a, “Record of Authorization to Electronically File FBAR’s” (maintained with the filers’ records). Otherwise, both spouses are required to file separate FBARs, and each spouse must report the entire value of the jointly owned accounts. See instructions for specific items, Part III, Items 25-33.
