My U.S. LLC opened a Wise account for foreign currency. Does the LLC itself now have an FBAR issue?
I am in Portugal and run a Delaware LLC. To handle EUR client payments, the business opened a Wise business setup and now holds balances outside the U.S. during the year. At peak, the foreign balance was definitely above $10,000.
I am a non-U.S. individual, so I originally thought FBAR could not apply. But someone told me the LLC itself may count as a U.S. person. If that is right, I do not want to miss an easy filing just because I focused on my own nationality instead of the entity.
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