FBAR Reporting
FBAR Reporting & Foreign Account Compliance
If you have foreign bank or financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year, you are required to file an FBAR (FinCEN Form 114). Don't risk severe penalties. Let me handle it correctly.
Get FBAR Help NowFBAR Penalties Are Severe
Non-willful violations: Up to $10,000 per violation. Willful violations: The greater of $100,000 or 50% of account balance per violation. Criminal penalties may also apply. File correctly and on time.
What is the FBAR?
The Foreign Bank Account Report (FBAR), formally FinCEN Form 114, is filed with the Financial Crimes Enforcement Network (FinCEN), not the IRS. It is due April 15 each year, with an automatic extension to October 15.
Any US person, citizen, resident, or entity, who has a financial interest in or signature authority over foreign financial accounts must file if the aggregate value exceeded $10,000 at any point during the year.
Who Must File?
US citizens and resident aliens with foreign accounts- US citizens living abroad (expats)
- US persons with signature authority over foreign accounts
- Corporations, partnerships, and trusts with foreign accounts
- Those inheriting foreign accounts or receiving foreign gifts
Related International Compliance
FATCA (Form 8938)
Report specified foreign financial assets to the IRS. Thresholds vary by filing status and residency.
Foreign Tax Credit (Form 1116)
Offset US tax liability with taxes paid to foreign governments.
Form 2555: FEIE
Foreign Earned Income Exclusion for Americans working abroad. Up to $126,500 excluded (2024).
Offshore Voluntary Disclosure
If you have unreported foreign accounts, I can help you come into compliance through proper IRS procedures.
FBAR & International Compliance Fees
FBAR (FinCEN 114): 1-3 Accounts
$100 to $150
FBAR: 4+ Accounts
$150 to $300
FATCA Form 8938
$150 to $300
Foreign Earned Income Exclusion (Form 2555)
$150 to $250
Foreign Tax Credit (Form 1116)
$100 to $200
Late/Amended FBAR Filing
Quoted individually
* Fees for standalone FBAR filing. When filed in conjunction with a tax return, fees may be reduced.
Don't Risk FBAR Penalties
Let me ensure your foreign account reporting is accurate and timely. Contact me for a free consultation.
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