Opened Account with Banco Do Brazil. Do I Need to Inform?

10/13/25  @roddiesho.  Generally speaking, as a US citizen you only have to report Brazilian bank accounts if they have a balance of US$10,000 or over even for a day during a tax year.  The reporting thresholds for other  assets are much higher.  For example, I've only had to file a report once since I came to Brazil, for the year we bought our apartment, because the purchase price was in my Banco do Brasil account for a couple of days.  The general rules for individuals appear here; discuss this with your US tax advisor if you think that you might be approaching any thresholds:

https://www.irs.gov/businesses/corporat … -act-fatca

One potential problem for expats from the US is investing in Brazilian "Passive Foreign Investment Companies".  These will often look like mutual funds in the US, but receive extremely punitive treatment from the IRS.  Talk to your US tax advisor before investing in any Brazilian investment that looks like a mutual fund.  More information appears here:

https://www.taxesforexpats.com/articles … taxes.html

The above is for information purposes only and is NOT tax advice.

@abthree Thanx! You are very helpful; I would never confuse you for an ordinary "tax advisor"

I do not Forsee this happening in the future. When I first came here three years ago, my brother sent

me an extra $10,000 from the sale of our parents' house, but it was only for a very short time and I transferred it  immediately to my PayPal account.

Roddie in Retirement😎

10,000 at anytime during the year.  Not current balance or end of the year balance

Good information for all!