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US NRIs

FBAR and FATCA checker for Indian accounts

Add your Indian accounts once a year and see where the totals stand against both US reporting lines.

Illustration of a shield protecting a foreign account balance checklist

NRIWallah team

Updated November 2026 · 2 min read

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Two reports, two tests

US citizens and green card holders are taxed on worldwide income and must also report foreign accounts. For an NRI from the US with money still in India, that usually means two separate reports with two different tests.

FBAR (FinCEN Form 114) is due when the highest balances of all your foreign accounts, added together, exceed $10,000 at any point in the calendar year. The highs are added even if they fell on different days, so three accounts that each peaked at $4,000 cross the line. An NRO savings account, an FCNR deposit and a demat account can do this between them easily.

Form 8938 (under FATCA) is filed with your tax return. Its thresholds are higher and depend on your filing status and on whether you live in the US or abroad: for a single filer in the US, $50,000 at year end or $75,000 at any time.

How the checker works

List each Indian account by type and a short name, with its highest balance during the year and its balance on 31 December, in rupees. Leave the account number out. The checker converts the totals at one rate, rupees per dollar on 31 December, and compares them with both thresholds. It keeps each year’s list, so next year you can start from the same accounts and update the balances.

The rate is the one figure the checker cannot fetch for you. FBAR uses the Treasury’s year-end rate, published in the following January. Until you type it in, the checker uses the European Central Bank rate for the last published day of the year, or today’s rate, and says so.

Where this fits

Interest from the same accounts still goes on your US return, and Indian TDS on it may count towards a foreign tax credit. The US tax calculator and the DTAA estimator cover the income side, and the Indian income ledger keeps the interest and TDS by calendar year. Indian mutual funds held by a US person raise the separate passive foreign investment company (PFIC) rules, which are worth raising with a preparer before buying more.

Indian accounts and assets in

Rupee balances only. Leave out account numbers: a type and a short name is enough.

For

Common questions

Usually yes, in full. For FBAR each joint owner reports the whole balance of the account, not their share. An account you can sign on without owning, such as one opened for a parent where you hold a mandate, can count as signature authority and is reported too.
The US Treasury’s Reporting Rate of Exchange for the last day of the calendar year, applied to every account’s highest balance, even if the high came in a different month. The checker starts with the European Central Bank reference rate for that day, or today’s rate, as a default, so type in the Treasury figure once it is published.
It depends on who you ask. Bank, deposit, demat and directly held mutual fund accounts are clearly foreign financial accounts. PPF, EPF, NPS and life policies with a surrender value are treated differently by different preparers, and many report them to be safe. The checker lets you count or leave out each one and see the effect.
No. It is a report of balances, filed online with FinCEN separately from your tax return. The income from those accounts, including NRE and FCNR interest that India does not tax, is still reported on Form 1040. Indian mutual funds can also raise the separate PFIC rules.
The IRS has procedures for people who did not know about the requirement, which generally carry lower penalties than being found first. The right route depends on the facts, so it is worth speaking to a US tax preparer who handles cross-border returns before filing anything late.

Every rate and threshold here is sourced, dated and shown on the page — but tax rules change, and we would rather be told than be wrong. Reports go to the team that maintains the tool. If you can point at the official source, that gets it fixed fastest.

No account needed. We don't publish your email or add you to anything.

How we source and review these numbers is set out in our methodology.

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