I did not know about the automatic extension, thanks! The FATCA 8938 form was pretty easy to handle, but this is my first time using the online FBAR reporting (I was used to the old TD90 form from years ago).
Moving back to Europe
- Thread starter FIREd
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I did not know about the automatic extension, thanks! The FATCA 8938 form was pretty easy to handle, but this is my first time using the online FBAR reporting (I was used to the old TD90 form from years ago).
I initially read that second acronym as "FUBAR". Hope that didn't jinx you.
Well I hope that my FBAR won’t be FUBAR. The penalties are huge.
Ronstar
Moderator Emeritus
Thanks for the update, FIREd. It sounds like everything is running smoothly!
W2R
Moderator Emeritus
FIREd, congratulations on closing on your condo and getting the utilities arranged! It sounds perfect for your new home.
If I paid a dozen bills by mail every month, that would be 2880 stamps over 20 years. So, at today's rates I have saved about $1,584 in stamps. Plus, late fees are avoided.
I only had a debit card (no credit card) for most of that time too, until 5 years ago. I was perfectly fine without any credit card, but I finally got the Amazon credit card for the rewards, after reading your mention of it a few years ago.
I got a lot of slightly negative comments here about having no credit card and about having my bills automatically deducted from my checking account, and I thought about these comments seriously. But I changed nothing (until getting that credit card), and overall I was pleased with that arrangement.
Good decision, although I know it feels unnerving at first. I have been doing the same for almost 20 years here in the US. I check every deduction and there have been zero errors in 20 years. The convenience is wonderful.
If I paid a dozen bills by mail every month, that would be 2880 stamps over 20 years. So, at today's rates I have saved about $1,584 in stamps. Plus, late fees are avoided.
I only had a debit card (no credit card) for most of that time too, until 5 years ago. I was perfectly fine without any credit card, but I finally got the Amazon credit card for the rewards, after reading your mention of it a few years ago.
I got a lot of slightly negative comments here about having no credit card and about having my bills automatically deducted from my checking account, and I thought about these comments seriously. But I changed nothing (until getting that credit card), and overall I was pleased with that arrangement.
Retch The Grate
Full time employment: Posting here.
congrats on closing!
Major Tom
Thinks s/he gets paid by the post
It sounds as if you are moving on with your life and things are going well. That's great news!
Huston55
Thinks s/he gets paid by the post
Congrats! 
bbbamI
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Congratulations! 
Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
+1
I was wondering the same thing as I get $500 -> $1,000 of rewards per year from credit cards, so I'd hate to only use a debit card.
Very few credit cards offer cash back / points in France. I had to google it and only found a handful of cards proposing cash back or miles. They were nowhere near as generous as in the U.S. and the annual fees were generally quite high.
NW-Bound
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Congrats. The home remodeling will keep you busy. That's not a bad thing.
tmm99
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I live in Canada and I file my own FBAR although I have a professional do my cross-border taxes.
https://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html
I use the PDF form instead of the online one because I couldn't figure out a way to save while updating the online form whereas you can save the PDF and even reuse the same PDF form for multiple years as long as the form hasn't gotten revised. For the second year, you can remove your signature and reuse the same form by just changing the $ amount as long as your bank (or other financial institutions) accounts stay the same.
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Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Great advice, I'll try that. Last time I copied and pasted each line from the previous year one.
Well I hope that my FBAR won’t be FUBAR. The penalties are huge.
I just helped my son do his second FBAR today (last one was tax year 2017). Since you are new to this let me give you a tip. The first year you do one will produce a signed PDF that you submit on line and later get an email acknowledging receipt.
Next year the chances are good that you still have the same accounts and their details, plus your home address is probably the same, so make a copy of that PDF then remove the signature using the "button" provided on the form. You can then change the report year in the form, scroll down and edit the amounts in the accounts relevant to the current year, add or delete new and old accounts where needed, e-sign the form, save and click submit which takes you to the Fincen site. Since my son only has 1 UK account to report which is the same one as last year it took less than 5 minutes to complete his 2018 FBAR filing.
W2R
Moderator Emeritus
I was thinking the opposite!
But always do respect your opinion.My thoughts are that after FIREd has lived in the condo a while, the updates may not seem as important to him as they do now. When I moved into my Dream Home, I thought I'd need to update the kitchen countertops to granite, for sure. But after living here a few months, I decided that the present laminate/Formica/whatever is better than I had expected and I don't need granite.
As for keeping busy, renewing old friendships and building new ones as well as settling into his new condo and new environment may provide plenty to do.
Update:
As I wrote in an earlier post, I decided to create a home business to give me easier access to universal health insurance in France. So a couple of weeks ago, I filed to incorporate my business. I received my corporate ID number within a couple of days. Within a week, I was informed that I now had health insurance coverage in France. And today, I purchased a supplemental health insurance plan (I went for a top of the line plan with virtually no deductible or copay for €65 a month). So I am now fully covered. Again, making money is not the primary objective of the business. It just makes it a lot easier to fit within the local administrative system which does not recognize the early retiree status. And, as I posted earlier, it might also save me a bundle in taxes.
I have started the demolition work on my new condo and I plan on starting the rebuilding phase in July. It will probably take until the end of the year to complete the work. I might post pictures as the work progresses. This is all very exciting. I enjoy the freedom to make the place my very own.
I have been very busy lately, not only with the condo's reno work, but also with the new vegetable garden which I created on the family farm. My social calendar is filling up fast too. I am meeting my new neighbors, and spending lots of time with friends and family. Time flies and life is good again.
Financially, things are great as well. My bills are surprisingly low here, even compared to what they were in low-cost Alabama! Just over $20 for a full cell phone plan (unlimited talk and text, 50GB data). My monthly electric bill is around $25. Fiber internet $30 per month for 1000 Mbps speed, etc... I will soon post an updated budget, but my non-discretionary expenses are down to about $1,250 a month - without even trying to be frugal. This is about 40% of what my bills were in AL. So there is plenty of money left after paying the bills to have some fun.
As I wrote in an earlier post, I decided to create a home business to give me easier access to universal health insurance in France. So a couple of weeks ago, I filed to incorporate my business. I received my corporate ID number within a couple of days. Within a week, I was informed that I now had health insurance coverage in France. And today, I purchased a supplemental health insurance plan (I went for a top of the line plan with virtually no deductible or copay for €65 a month). So I am now fully covered. Again, making money is not the primary objective of the business. It just makes it a lot easier to fit within the local administrative system which does not recognize the early retiree status. And, as I posted earlier, it might also save me a bundle in taxes.
I have started the demolition work on my new condo and I plan on starting the rebuilding phase in July. It will probably take until the end of the year to complete the work. I might post pictures as the work progresses. This is all very exciting. I enjoy the freedom to make the place my very own.
I have been very busy lately, not only with the condo's reno work, but also with the new vegetable garden which I created on the family farm. My social calendar is filling up fast too. I am meeting my new neighbors, and spending lots of time with friends and family. Time flies and life is good again.
Financially, things are great as well. My bills are surprisingly low here, even compared to what they were in low-cost Alabama! Just over $20 for a full cell phone plan (unlimited talk and text, 50GB data). My monthly electric bill is around $25. Fiber internet $30 per month for 1000 Mbps speed, etc... I will soon post an updated budget, but my non-discretionary expenses are down to about $1,250 a month - without even trying to be frugal. This is about 40% of what my bills were in AL. So there is plenty of money left after paying the bills to have some fun.
Retch The Grate
Full time employment: Posting here.
keeps on sounding great.
W2R
Moderator Emeritus
I would never have expected that - - like many Americans, I know very little about the health care over there but just assumed that all you had to do was show some proof of citizenship and you'd be all set. Oh well! Sounds like very little hassle, overall, to get retiree health care.
It's great to read that you are planting a garden, renovating, meeting friendly neighbors and spending time with them, and so on. Sounds like your adjustment to divorced live is going outstandingly well.
I want your internet!
We don't have fiber, so I get cable internet and I get 100 Mbps (not 1000) for $84/month.Moemg
Gone but not forgotten
Congratulations on doing so well !
ugeauxgirl
Thinks s/he gets paid by the post
I'm glad it is all coming together for you!
Bestwifeever
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Sounds perfect for you, FIREd! I hope you’re happier now than you imagined you could be.
Very positive post, great update, so pleased to hear how well things are going.
I expect it is the same with all European countries. In the UK citizenship does not get you NHS healthcare, only legal permanent residence. When I went for my heart surgery last year I had to bring proof of the right to be legally in the country plus proof that I was a resident. In my case I took along my British passport and a recent utility bill.
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