You must keep records for each account you must report on an FBAR that establish:
- Name on the account,
- Account number,
- Name and address of the foreign bank,
- Type of account, and
- Maximum value during the year.
- The law doesn’t specify the type of document to keep with this information; it can be bank statements or a copy of a filed FBAR, for example, if they have all the information.
You must keep these records for five years from the due date of the FBAR.
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