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Does a foreign government retirement account have to be reported for FBAR purpose?

This retirement has origination from government entity job.The person quit the job in 2008, and moved to united states, and has been waiting to meet the retirement age to submit documents to get the pension. since 2008 until the end of 2017 never put more money. At the end of last year started making some contributions again, and by December 31, 2018 will meet the retirement age to claim the pension.

Thank you very much for the help!
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Manasa Nadig
Yes, if the balance in your foreign retirement account along with balances in other foreign specified financial assets (if any) is $10,000 or more. Depending on the ratio of the employer-employee contributions and the de minimis balance in the account, this account may also be subject to PFIC rules. Tax treaty (if one exists)rules between the US and the country where the retirement account is will govern whether you can make tax-free contributions into the account while you are a US resident. Also check if there are any Totalization agreements between this person's country and the US and if this foreign government account will be affected by the Totalization agreement. Again these rules will affect the taxability of the distributions as well.
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