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Which bank?


Mijo

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Bancomer/BBVA is everywhere in Mexico and has sister banks in South America.  They can be a pain in the a** and like to make up new rules it seems. They also lie.  We also have an account at Intercam so my wife has an account in her name.  It seems that joint account doesn't mean what it means in the US.  We are very happy with Intercam.  If you are not a global traveler and don't need the big bank try Intercam.  New office will be open soon at Carraterra and Cinco De Mayo. They are good with checks and BBVA/Bancomer is not. 

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https://www.nolo.com/legal-encyclopedia/when-am-i-required-file-schedule-b-irs-tax-return.html

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Foreign Bank Accounts
If you have foreign bank accounts, the rules change. You are required to file Schedule B if you: “Have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country.”

There is no dollar threshold on the duty to report foreign accounts on Schedule B. You should report any such accounts. To do so, complete Part III of the form. You are not required to list the amounts you held in such accounts on Schedule B. Instead, you merely answer “yes “that you had a foreign account. You are also required to state whether you were required to file FinCen Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

 

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