Do I need an FBAR if I trade on an international exchange?

What is the FBAR?

FBAR stands for Foreign Bank Account Report. You need to file one with the U.S. Department of Treasury if you ever exceed $10,000 total in foreign exchange accounts at any time of the year. This may apply to you as cryptocurrency exchanges are based all around the world.

Do I need to file one for all exchanges where my assets went over $10,000 USD during the year?

An FBAR only needs to be filed for foreign exchanges, not U.S. exchanges.

My CPA or tax preparer isn't filing for me. Where can I file myself?

Go here to file it as an individual.

What is my exchange account number?

If you can't find the account number for your crypto exchange account you can use your SSN. It's already included earlier in the form, so it shouldn't be giving away any additional information.

What is the max USD value during the year?

The max account value for each exchange you traded on can be found in the top row of your TokenTax FBAR report.

Which of my exchanges are foreign?

It’s good to know where your crypto exchange is based. You'll need to know it if you file an FBAR. And in the unfortunate event that your exchange is hacked, the jurisdiction where the platform is based will help you figure out how to recover your crypto, if possible.

What is the address of the exchange?

If you can't find an address, putting at least the country where the exchange is domiciled (from the list below) is better than nothing.

Here is a handy list you can use to identify where your crypto exchange is based:

Argentina

  • South Exchange

Australia

  • BTC Markets

Austria

  • BitPanda

  • Ethermine

  • Virwox

Belize

  • Livecoin

Brazil

  • Bleutrade

  • Foxbit

  • Mercadobitcoin

Canada

  • CoinSquare

  • Jaxx Wallet

  • Quadrigsacx

  • Tuxexchange

Cayman Islands

  • Gate.io

China

  • Bibox

  • Bitmain

  • LakeBTC

  • Yunbi

  • CoinsMarkets

Czech Republic

  • Changelly

Decentralized

  • Bisq.io

  • CoinExchange.io

  • EtherDelta

  • Exodus

Estonia

  • Exscudo

France

  • Paynium

Germany

  • Bitcoin.de

  • C-Cex

Hong Kong

  • Bitfinex

  • GateCoin

  • HitBTC

  • OkCoin

  • OKex

India

  • Zebpay

Indonesia

  • Bitcoin Indonesia

  • Bitcoin.co.id

Israel

  • CoinMama

Italy

  • BitGrail

Japan

  • Bitflyer     

  • Coincheck     

  • Liquid  (Formerly Qryptos)  

Korea

  • Korbit

Lithuania

  • Coingate

Luxemburg

  • Blockchain.info

Malta

  • The Rock

  • Binance (was Japan)

Mexico

  • Bitso

New Zealand

  • Cryptopia

Poland

  • Bitbay

Seychelles

  • BitMex

Russia

  • Btc-e

  • Goldmint

  • Tidex

  • Waves

  • Yobit

Singapore

  • COSS

  • Huobi

  • KuCoin

South Korea

  • Bithumb

  • Coinone

Sweden

  • Nova Exchange

Switzerland

  • Shapeshift

  • uShift

  • Vaultoro

Thailand

  • Bx.in.Th

UAE

  • Ust Tech

United Kingdom

  • Exmo

  • Bitconnect

  • BitStamp

  • Cashaa

  • CEX.IO

  • Coinmate

  • Coinsbank

  • Cryptogo

  • Gatehub

  • Indacoin

  • Liqui

  • Mercatox

  • Tradesatoshi

United States

  • Abra

  • Bitcoin.com

  • BitPay

  • BitShares DEX

  • Bittrex

  • Circle

  • Coinbase

  • Coinbase Pro (formerly GDAX)

  • Gemini

  • itBit

  • Kraken

  • Oasis

  • Paxful

  • Poloniex (now owned by Circle)

  • Xcoins.io

This list is for informational purposes and current as of the publication of this article. Many crypto asset platforms change jurisdictions, so you should always double check this list.

Need more help? Check the FINCEN filing instructions here.

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