Who Must File
You must file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (the “FBAR”), if you have a financial i… Read moreFiling threshold
The FBAR filing threshold is an aggregate amount–meaning, if you have multiple accounts, the total balance of all of y… Read moreWhen to File
The FBAR is an annual report, due April 15 following the calendar year reported. You’re allowed an automatic extension… Read moreWhat Needs to Be Filed
The largest number of FBAR filers will just be reporting their foreign bank account balances. However, you must also rep… Read moreHow Do You File FBAR
Filing the FBAR is different from filing your Federal Tax Return. The FBAR is filed separately to the Department of the … Read moreHow to Report Joint Accounts on the FBAR
If you and your partner only hold joint accounts, have your spouse sign FinCEN Form 114a to allow you to file the FBAR o… Read moreKeeping Records
You must keep records for each account you must report on an FBAR that establish: … Read moreWhat Are the FBAR Penalties for Not Filing
You may be subject to civil monetary penalties and/or criminal penalties for FBAR reporting and/or recordkeeping violati… Read moreWhat Should I Do If I Haven’t Filed FBAR but Should Have
No need to panic! Millions of Americans have FBAR forms that are past-due, and the IRS has created amnesty programs to h… Read more
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