FBAR Filing for US Expats in Germany
Germany hosts a significant US military and civilian expat population. German bank accounts at Sparkassen, Volksbanken, and commercial banks are reportable on FBAR. Pension plans, Bausparkonten, and investment accounts must also be reported if aggregate foreign account values exceed $10,000.
Approximately 200,000 US citizens live in Germany
Common Germany Banks Reported on FBAR
Germany Account Types Reportable on FBAR
- Girokonto (current accounts)
- Sparkonto (savings accounts)
- Tagesgeldkonto (overnight deposit accounts)
- Festgeldkonto (fixed-term deposits)
- Bausparkonten (building savings)
- Depot accounts (securities)
Germany Pension & Retirement Account FBAR Rules
German Riester-Rente and Rürup-Rente pension plans are reportable on FBAR. Betriebliche Altersvorsorge (company pensions) may also be reportable depending on the specific structure. The US-Germany tax treaty (Article 18A) provides limited pension relief.
Key FBAR Considerations for Germany
- !Bausparkonto (building savings accounts) are reportable foreign accounts
- !German Lebensversicherung (life insurance with investment component) may be reportable
- !Riester and Rürup pension contributions are not tax-deductible on US returns
- !German investment funds (Investmentfonds) may qualify as 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 Germany Accounts
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