FBAR Filing for US Expats in France
France is home to a large US expat community. French bank accounts, Livret A savings, Assurance Vie contracts, PEA investment accounts, and PEL housing savings plans are all reportable on FinCEN Form 114. Assurance Vie is particularly important as it is the most popular savings vehicle in France.
Approximately 150,000 US citizens live in France
Common France Banks Reported on FBAR
France Account Types Reportable on FBAR
- Compte courant (current accounts)
- Livret A (regulated savings)
- Assurance Vie (life insurance/investment)
- PEA (equity savings plans)
- PEL (housing savings plans)
- Compte-titres (securities accounts)
France Pension & Retirement Account FBAR Rules
French Assurance Vie (life insurance/investment products) are reportable on FBAR. PEA (Plan d'Épargne en Actions) and PEL (Plan d'Épargne Logement) accounts are also reportable. The US-France tax treaty (Article 18) provides pension relief for certain French social security benefits.
Key FBAR Considerations for France
- !Assurance Vie contracts are reportable foreign financial accounts
- !Livret A savings accounts are reportable despite their regulated nature
- !PEA and PEL accounts must be reported on FBAR
- !French investment funds (OPCVM) may be PFICs
EUR/USD Currency Conversion
FBAR requires reporting account values in US dollars. FBAR Direct automatically converts Euro (EUR) balances to USD using the Treasury Department's end-of-year exchange rate, so you can enter your account values in EUR.
File Your FBAR for France Accounts
Most people finish in under 10 minutes. Automatic EUR/USD conversion included.
Start Filing — From $59