Background:

Pre-2023, while on H1B in the US:

• I was on an H1B visa in the US between 2004 and 2023.
• There was a joint account in India with my father (I was a secondary holder, opened in 1997 when I was a minor).
• I wasn’t actively using it, but:
  • Some remittances from the US went into this account.
  • At times, balances exceeded USD 10K.
• I didn’t use the interest, and funds were sometimes moved into fixed deposits under my father’s name.
• This account was never reported under FBAR during my time in the US.

Post-2023 in India with US Greencard:

• As of April 2026, I’ve filed US taxes only once including my Indian income (for the 2024–2025 tax year).
• This included salary earned in India from Feb 2024 to Dec 2024.
• Initially, my salary was credited to the same joint Indian bank account (with my father).
• Around early 2024, I also opened another Indian bank account and transferred a small amount (~USD 4K - USD ₹6K) into it from the joint account.
• My employer also opened PF and NPS accounts for me. These are Indian retirement fund accounts
• Later in 2025, I started receiving my salary into this second account instead

FBAR Concerns:

• Am I non-compliant with FBAR for prior years due to the joint account?
  • Does being a secondary holder (and not actively managing the account) change reporting requirements?
• FBAR was filed as part of the tax returns in 2025, but it didn't report any of the newly opened accounts. It reported only the original salary drawing account. Was reporting the second account necessary in 2024-2025?
• Should PF / NPS (Indian equivalent of 401K) accounts be reported under FBAR?
• What’s the best way to fix this now?
  • Streamlined Filing Compliance Procedures?
  • Amended returns + late FBAR filings?
  • Or something else?
• How risky is this situation in practice?