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Posted Tue, 08 Apr 2025 01:10:04 GMT by ta6234623
Does a USA-resident (non-UK-resident) UK Citizen need to report their USA bank accounts to HMRC (or other agency; on any form; in any possible way)? Context: In the USA, "US Persons" regardless of residency are required to report all foreign bank accounts. If the scenario described above were reversed, the UK-resident (non-USA-resident) USA Citizen WOULD have to report their bank accounts to the IRS. To be clear - Nothing in this question concerns interest, dividends, earnings or any other "income". The question exclusively concerns simply holding a balance in a foreign bank account as a UK Citizen with foreign tax residency.
Posted Tue, 15 Apr 2025 07:56:24 GMT by HMRC Admin 17 Response

Hi ,
 
No. 

As you are not resident in the UK, you do not need to declare any income or capital gains

that arise outside of the UK . 

Thank you .
 
Posted Wed, 16 Apr 2025 17:03:48 GMT by ta6234623
Apologizes, I think my question was unclear. This does not concern income or capital gains. QUESTION: Are non-residents required to report the existence and balance of foreign bank accounts? (I realize the concept may seem strange, (it does to me also), but it is well established (and severely punished) in US law under the "FBAR". The FBAR requires US Citizens to report foreign bank accounts regardless of tax residency and regardless of whether or not any taxable events are associated with the account).
Posted Thu, 24 Apr 2025 09:08:21 GMT by HMRC Admin 25 Response
Hi ta6234623,
As non resident you only report any UK income.
Thank you. 
 
Posted Fri, 25 Apr 2025 06:06:19 GMT by ta6234623
Thank you for your response. I still don't think my question is being answered explicitly, however I think that in and of itself is the answer. I think the concept of having to report the balance of a bank account for purposes unrelated to taxable income is too alien to register. I think if there were anything even remotely close to the US FBAR in UK law then it would be familiar and referenced in your responses. Further, I think your response "you ONLY report any UK income" (emphasis added) should be taken to mean "you DO NOT report the identity and/or balance of a foreign bank account". I take all this to conclude: there is nothing like the US FBAR in UK tax law. Residency is key, and there are no circumstances where a non-resident would have to report the balance of a foreign bank account. Please correct me if I am wrong. Thank you

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