Who is the principal joint owner when an FBAR account has three or more owners?
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Short answer
FinCEN's Part III instructions ask for the identifying information of the principal joint owner other than the filer. If the filer's spouse is a joint owner, FinCEN specifically directs the filer to identify that spouse as the principal joint owner.Source 1
How the rule works
FinCEN doesn't say which co-owner to choose when your spouse isn't one. A practical approach is to name the co-owner whose identifying details you have most fully; this is a suggestion, not a FinCEN rule. Count all the other owners in Item 24, and contact the BSA E-Filing Help Desk if you want confirmation for your case.Source 1
Example
An account is jointly held by a filer, their spouse and an adult sibling. On the filer's FBAR, the spouse is the principal joint owner and Item 24 shows 2. If the filer instead shares the account with two siblings and no spouse, the filer can name either sibling as principal joint owner and still enters 2.Source 1
What to check
Count every owner besides yourself in Item 24 and complete Items 25–33 for the principal joint owner. Leave blank any item for which you have no information.Source 1
Related questions
- How many joint owners do I enter on Form 114, and do I count myself?
- What if my joint account owner has no U.S. taxpayer identification number?
- What if I forgot to identify my spouse as a joint owner on a filed FBAR?
- Can my spouse and I file one FBAR together?
- How to file an FBARBSA E-Filing step by step, what you need and what happens after you submit.
Full rules and more examples: Joint accounts, spouses and children
Sources
Official sources used for this page.
Source 1: FinCEN, Reporting Jointly Held Accounts (opens in a new tab)
Part III instructions, full account values, joint owner count, principal joint owner identity and blank items.
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