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Does everyone submit FBAR to IRS???

Does everyone submit FBAR to IRS???

Ripple Reddit

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I just stumbled upon this and had no idea what it my understanding is if you own more than $10K in assets in a foreign bank, which includes crypto exchanges, you have to report your account with the FinCet division of the Treasury........and after the recent run-up in XRP there might be some people that crossed that threshold and don't know about it....and you have to report the account every year that your account is over that amount

I'm glad someone mentioned this in a thread because i had no idea you had to report your account.......the penalties are very steep and unforgiving........just a heads up in case someone was in the dark, like me....

submitted by /u/bruce21b
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