FBAR requires you to report an account held overseas in excess of $10,000. This is separate from the reporting you do on your tax return and separate from the reporting institutions are required to do for FATCA.<p>FBAR is more insidious for the individual because any US taxpayer (not just citizens) is required to file an FBAR and $10,000 is a stupidly low number. Worse even if the money overseas isn&#x27;t yours (in the case you have say signature authority over an account because of power of attorney) you still have to file. Even worse once one account tops $10,000 you have to report all of them even if they have zero balance. It&#x27;s also not clear what constitutes an account. Example does a PayPal account count ?<p>The only conclusion I can come up with is that FBAR is basically there to make it easy for the Feds to do a Martha Stewart and get you for lying, because proving tax evasion is a bit hard.<p>(Disclaimer: Not an accountant. Consult an accountant for tax related advice)