The short answer
When two people jointly own a foreign financial account, each has a financial interest in it, and each U.S. person owner reports the entire value of the account on an FBAR. Married couples have one shortcut: the spouse filing exception, which lets one spouse file a single FBAR for both — but only when its conditions are met.
Rule 1: each joint owner counts the full value
FinCEN's guidance is that if two persons jointly own a foreign financial account, each person has a financial interest in that account and each must report the entire value of the account. That full value also counts toward each spouse's own $10,000 aggregate test. Do not split a joint account 50/50 for the FBAR.
Rule 2: the spouse filing exception
Spouses do not need to file separate FBARs if:
- all of the non-filing spouse's reportable foreign financial accounts are jointly owned with the filing spouse;
- the filing spouse reports all accounts jointly owned with the non-filing spouse on a timely FBAR; and
- both spouses complete and sign FinCEN Form 114a, Record of Authorization to Electronically File FBARs.
Form 114a is kept with your records — it is not submitted with the FBAR. If the exception does not apply, both spouses file separate FBARs, and each reports the entire value of the jointly owned accounts.
| Situation (both spouses U.S. persons) | How the FBAR works |
|---|---|
| All foreign accounts are joint between the spouses | One spouse can file for both under the spouse exception, with a signed Form 114a |
| One spouse also has an account the other is not on | That spouse cannot use the exception; each spouse files and reports the full value of the joint accounts |
| One spouse only has signature authority over the other's separate account | Signature authority is its own basis for FBAR reporting; check each spouse's accounts carefully |
Example
Ming and Yu, both U.S. residents, have one joint Taiwan savings account with a 2025 maximum value of $16,000 and no other foreign accounts. Each has a financial interest, and each would report $16,000. Because all of each spouse's accounts are joint with the other, they use the spouse filing exception: Ming files one timely FBAR reporting the joint account, and both sign Form 114a, which they keep.
If Yu also had her own Taiwan account, the exception would no longer cover her: they would file two FBARs, each reporting the joint account at its full $16,000, and Yu would also report her own account.
Don't borrow other rules
- Income tax filing status is not the test. Filing a joint income tax return does not by itself let you file one FBAR.
- Form 8938 is different. It has its own married-couple thresholds and rules. Don't assume they apply to the FBAR. See FBAR vs. Form 8938.
- No 50/50 split. Neither community-property ideas nor an equal-ownership assumption changes the FBAR rule that each joint owner reports the entire value.
- A nonresident spouse. IRS guidance says the election to treat a nonresident spouse as a resident does not change FBAR residency. A spouse who is not a U.S. person does not become one for the FBAR because of that election.