FBAR and Form 8938 Checker for Indian Accounts

Yes, if you are a US person (a citizen, a green card holder, or a resident under the substantial presence test, which covers most H-1B workers) and the highest balances of all your foreign accounts add up to more than $10,000 at any time in the year. Every account counts toward the total, even ones far below $10,000, and once you file you list them all.

Treasury's reporting rate for the last day of the calendar year, for every account, even if the highest balance was in March. For 2025 that is 89.854 rupees per dollar, so the $10,000 line is about ₹8,98,540 across all accounts. Treasury publishes the 31 December 2026 rate in January 2027.

PPF is reported on both FBAR and Form 8938 by consensus, since it is held at a bank or post office. EPF is reported on both by most practitioners, though a minority treat it as a government fund outside FBAR. NPS Tier I is split for FBAR and generally reported on Form 8938; Tier II behaves like a fund account and is reported on both. No IRS or FinCEN ruling settles EPF or NPS, so many report them to be safe.

Yes. Units held directly with the fund house through CAMS or KFintech are a mutual fund account for FBAR and a specified foreign asset for Form 8938. Each fund is also a PFIC, which may need its own Form 8621; a fund you report on Form 8621 still counts toward the Form 8938 threshold and is noted in Part IV.

FBAR (FinCEN Form 114) is filed online with FinCEN, covers financial accounts including ones you only have signature authority over, and is due above $10,000 in total. Form 8938 is filed with your tax return, covers what you own (accounts and assets held outside accounts), and has higher thresholds: for someone living in the US, more than $50,000 on 31 December or $75,000 at any time if single, and $100,000 or $150,000 on a joint return. You can need both.

15 April after the calendar year, with an automatic extension to 15 October. For 2026 that is 15 April 2027, extended to 15 October 2027. If you missed one and the IRS has not contacted you, its guidance is to file the late FBARs as soon as possible with an explanation; the streamlined filing procedures are for people who also have unreported income. A non-wilful FBAR penalty can be up to $16,536 per report, not per account, since the Supreme Court's 2023 Bittner decision.

For Form 8938, only the part of the year you were a US resident counts. For FBAR there is no specific rule: one reading is the whole calendar year, another only the resident part. Many report the whole year's highest balances to be safe. If you are not a US resident at all, for example on a visa without meeting the substantial presence test, neither applies.