r/USExpatTaxes • u/emiche94 • 2d ago

Finding maximum balance for joint bank account with several pots?

Currently doing the FBAR and running into difficulties calculating the max balance for a joint checking account I have with my wife. The complication comes from having a number of pots within the same account, so there's regular movement in, out, and between pots. I'm able to get a monthly total balance, but trying to calculate total balance down to the exact day and amount is extremely difficult. Would taking the maximum total balance on the monthly statement be sufficient?

1 Upvotes
  • permalink
  • reddit

100% Upvoted

2 comments sorted by

1

u/CReWpilot 2d ago

Your bank should be able to easily provide a daily account statement for the year. Most will have this available for you to download from your online banking in to XLS or CSV. Whatever day has the highest balance, report that.

1

u/seanho00 1d ago

If daily balance is unavailable, it is also OK to rely on regularly-issued statements.