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Tabitha Paddock of Greenback Expat Tax Services – Best Places In The World To Retire User Account
The FBAR will only affect you if you choose to open a bank account in Panama (or any foreign country), and that account (or the value of all foreign accounts total) reaches 10,000 USD at some point in the year.
 
If your foreign account does have more than $10,000 in it (even if only for a day), you must file a FBAR. The FBAR is completed via Form TD F 90-22.1 and is due every year by June 30th.
 
You are not taxed on this money, it is simply a reporting document.

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Best Places In The World To Retire Expat Stories contains text, video, and photos by people just like you who are already living abroadUse the menu on this page to go to categories of Stories.
Best Places In The World To Retire Community Questions and Answers about living and retiring abroadUse the menu on this page to go to other categories of questions.
The Best Places In The World To Retire Location Advisor makes personalized recommendations for where to live and retire overseasGet matched to your ideal location to live abroad.
Best Places In The World To Retire Community Questions and Answers about living and retiring abroadAnswers about living, working or visiting abroad.
Best Places In The World To Retire Expat Stories contains text, video, and photos by people just like you who are already living abroadStories by expats & others about their life aborad.
Best Places In The World To Retire - MarketplaceFind for profit, non-profit and religious organizations.
 

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