watgate Posted February 5, 2022 Share Posted February 5, 2022 Does anyone know the currency rate for the baht for the end of year tax reporting requirement for FBAR? Link to comment Share on other sites More sharing options...
longball53098 Posted February 5, 2022 Share Posted February 5, 2022 From the official IRS site it is listed as 33.4 THB Link to comment Share on other sites More sharing options...
watgate Posted February 6, 2022 Author Share Posted February 6, 2022 Longball thanks for the info. Much appreciated Link to comment Share on other sites More sharing options...
FarangRimPing Posted February 6, 2022 Share Posted February 6, 2022 For Future Info, this is the URL: https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates I used the Yearly Average Currency Exchange Rates link close to the bottom of the page. Link to comment Share on other sites More sharing options...
Jingthing Posted February 6, 2022 Share Posted February 6, 2022 40 minutes ago, FarangRimPing said: For Future Info, this is the URL: https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates I used the Yearly Average Currency Exchange Rates link close to the bottom of the page. For FBAR I'm pretty sure you're supposed to use the last day of last year's rate NOT any kind of average. Link to comment Share on other sites More sharing options...
lopburi3 Posted February 6, 2022 Share Posted February 6, 2022 26 minutes ago, Jingthing said: For FBAR I'm pretty sure you're supposed to use the last day of last year's rate NOT any kind of average. Indeed and this link provides. https://fiscaldata.treasury.gov/datasets/treasury-reporting-rates-exchange/treasury-reporting-rates-of-exchange 1 Link to comment Share on other sites More sharing options...
Jingthing Posted February 6, 2022 Share Posted February 6, 2022 8 minutes ago, lopburi3 said: Indeed and this link provides. https://fiscaldata.treasury.gov/datasets/treasury-reporting-rates-exchange/treasury-reporting-rates-of-exchange So it's 33.4 as posted by longball. 1 Link to comment Share on other sites More sharing options...
lopburi3 Posted February 6, 2022 Share Posted February 6, 2022 7 minutes ago, Jingthing said: So it's 33.4 as posted by longball. Indeed first reported in home country forum on January 7 (and did my FBAR that day). 1 Link to comment Share on other sites More sharing options...
FarangRimPing Posted February 7, 2022 Share Posted February 7, 2022 22 hours ago, Jingthing said: For FBAR I'm pretty sure you're supposed to use the last day of last year's rate NOT any kind of average. Sorry, you're right, as others have posted, as mentioned here: https://www.fincen.gov/sites/default/files/shared/FBAR Line Item Filing Instructions.pdf Note that this can be different from the income tax return, and probably most people use the average rate I posted earlier. Link to comment Share on other sites More sharing options...
pablo el sueco Posted January 7, 2023 Share Posted January 7, 2023 Treasury Reporting Rates of Exchange has been updated for end-of-year 2022. The rate for 12/31/2022 is 34.52 baht to the US dollar. Link to comment Share on other sites More sharing options...
KhunLA Posted January 7, 2023 Share Posted January 7, 2023 With 400k in the bank, you'll break the $10k USD bar quite easily. I wish it was ฿40+ / $1 USD dollar also, but won't see that again in our lifetime. Link to comment Share on other sites More sharing options...
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