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Do I report my DEGIRO account on the FBAR?

Updated

Checked against official sources on How we check

Short answer

Yes, a DEGIRO account is a securities account held outside the United States, so it goes on your FBAR when your foreign accounts together exceed $10,000.⁠Source 1⁠Source 2

Report the account once, at its highest total value during the year: cash plus the market value of your shares and ETFs.⁠Source 3

What DEGIRO is, in FBAR terms

What it is
DEGIRO is a European online broker. Your account holds cash and securities on your behalf, outside the United States.⁠Source 1
On the FBAR
The FBAR treats it as one securities account. You do not list each holding; you list the account with its maximum value.⁠Source 1⁠Source 3
On your statement
Use the account overview or annual report for the total value. If you know of a higher value between statements, use that figure.⁠Source 3

Example

Example

Lisa's DEGIRO account

Lisa holds three ETFs and some cash at DEGIRO. Her account was worth €18,300 at its peak in November, and €16,900 on December 31.⁠Source 3

She reports €18,300, converted at the December 31 Treasury rate, as one account.⁠Source 3

Common mistake

Reporting only the cash balance, or listing each ETF separately. The account is reported once, at its total value.⁠Source 3

More on this question

My European ETFs raise U.S. tax questions. Does that change the FBAR?

No. Holding European funds can create separate U.S. income tax issues, but the FBAR entry stays the same: one account at its highest value.⁠Source 3

Is a U.S. broker holding European shares reportable?

No. What matters is where the account is held, not what it invests in.⁠Source 4

Related questions

    Full rules and more examples: Foreign brokerage and securities accounts

    Sources

    Official sources used for this page.

    1. Source 1: eCFR, 31 CFR § 1010.350 — Reports of foreign financial accounts (opens in a new tab)

      Who has a reportable financial interest in accounts, the rule for owners of record and the definition of signature authority.

      ecfr.govChecked Back to text

    2. Source 2: IRS, Report of Foreign Bank and Financial Accounts (FBAR) (opens in a new tab)

      U.S.-person and $10,000 tests, spousal exception, irrelevance of income-tax filing status and extensions for certain employees and officers.

      irs.govChecked Back to text

    3. Source 3: FinCEN, Reporting Maximum Account Value (opens in a new tab)

      Maximum account value for cash and nonmonetary assets, account-by-account values and currency conversion, including another verifiable rate with its source.

      fincen.govChecked Back to text

    4. Source 4: IRS, Internal Revenue Manual 4.26.16 — FBAR (opens in a new tab)

      Financial interests, signature authority, U.S. residency (including 6013(g)/(h) elections and treaties), family attribution, spousal filing, Form 114a parts and amended-FBAR identifiers.

      irs.govChecked Source updated Back to text