Do I need to report my Korean bank accounts on FBAR? (Toss & KakaoBank)
Do my Korean bank accounts really need to be reported on FBAR? Yes — any U.S. person whose foreign financial accounts (including Toss, KakaoBank, KEB Hana, Kookmin, or a Korean brokerage) together exceed $10,000 at any point during the calendar year must file FinCEN Form 114. The $10,000 test is measured across all accounts combined,…