Share in foreign companies reporting
Example: You own more than 50% of the shares in a foreign company. That company, in turn, owns less than 50% of a second foreign company. You have a signature on the bank account of this second company. Do you have to report the second company account on FBAR?
In this case, bank account for the first company is reported as your personal account because you have control ownership over 50%.
Bank account for the second company is reported separately as account for which you have signatory authority but no control.