FBAR: Filing Requirements for Gold or other Non-Cash Assets

Under IRS (6/29/09) FAQs regarding Report of Foreign Bank and Financial Accounts (FBAR), the IRS confirmed:

1. An FBAR must be filed whether or not the foreign account generates any income;
 
2. An FBAR is required for account maintained with financial institutions located in a foreign country if the account holds gold (or other non-cash assets).

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