foreign-income

Does PayPal count as a US bank account for FBAR purposes?

SA
sandy_a353
January 2, 2019 562 views 0 answers
FBARPayPalforeign accounts

I have a PayPal business account linked to my LLC. It sometimes holds significant balances. Does this count toward the $10,000 FBAR threshold?

Related Questions

Foreign IncomeAnswered

FBAR Filing: FinCEN Report 114 for Foreign Bank Accounts (Ep. 38)

I have income from outside the U.S. and need guidance on: FBAR Filing: FinCEN Report 114 for Foreign Bank Accounts. What are my reporting obligations and how do I stay compliant?

MJ
maria_jp_b5b2·Jun 15, 2025
1,7551
Foreign IncomeAnswered

FBAR Guide: FinCEN Report 114 for Foreign Bank Account Reporting

I have income from outside the U.S. and need guidance on: FBAR Guide: FinCEN Report 114 for Foreign Bank Account Reporting. What are my reporting obligations and how do I stay compliant?

O3
olga_39f4·Jun 8, 2024
2,4361
Foreign IncomePending

Tax treaty between US and UK — does it affect my Form 5472?

I'm a UK citizen with a US LLC. Someone mentioned tax treaties might reduce my filing obligations. Does the US-UK tax treaty change anything about Form 5472?

F8
firstllchelp_8314·Dec 17, 2023
2550
Foreign IncomePending

What's the difference between Form 5472 and FBAR? Do I need both?

I keep seeing mentions of both Form 5472 and FBAR for foreign LLC owners. Are these the same thing? Do I need to file both? What's the difference?

RB
ritasg_b2a7·Jul 16, 2022
6180
Foreign IncomeAnswered

Foreign Income Filing Obligations Reminder for U.S. Taxpayers

I have income from outside the U.S. and need guidance on: Foreign Income Filing Obligations Reminder for U.S. Taxpayers. What are my reporting obligations and how do I stay compliant?

H7
hassan_7b59·Sep 6, 2022
1,2471
Foreign IncomeAnswered

Foreign Income Filing Obligations: What U.S. Taxpayers Must Report (Ep. 37)

I have income from outside the U.S. and need guidance on: Foreign Income Filing Obligations: What U.S. Taxpayers Must Report. What are my reporting obligations and how do I stay compliant?

CG
chris_gb_d090·Oct 8, 2024
5581
Foreign IncomeAnswered

Foreign Income Overview: U.S. Tax Rules for International Taxpayers

I have income from outside the U.S. and need guidance on: Foreign Income Overview: U.S. Tax Rules for International Taxpayers. What are my reporting obligations and how do I stay compliant?

M3
mei_3b90·Aug 28, 2023
5551
Foreign IncomeAnswered

Foreign Income Tax Overview: IRS Rules for U.S. Taxpayers (Ep. 36)

I have income from outside the U.S. and need guidance on: Foreign Income Tax Overview: IRS Rules for U.S. Taxpayers. What are my reporting obligations and how do I stay compliant?

RD
raj_de_dc2e·Mar 19, 2022
2,0681
Foreign IncomeAnswered

Form 3520: Foreign Trust and Gift Reporting Guide

I have income from outside the U.S. and need guidance on: Form 3520: Foreign Trust and Gift Reporting Guide. What are my reporting obligations and how do I stay compliant?

CF
camila_fc95·Jan 11, 2023
1,5971
Foreign IncomeAnswered

Form 3520: Foreign Trust and Gift Reporting Requirements (Ep. 42)

I have income from outside the U.S. and need guidance on: Form 3520: Foreign Trust and Gift Reporting Requirements. What are my reporting obligations and how do I stay compliant?

B7
brandon_7c62·Dec 2, 2022
4421

Have a similar question?

ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.

Become a Member — $9.99/mo

Disclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.

Watch the walkthroughs