Category: FBAR For Expats

The Report of Foreign Bank and Financial Accounts (FBAR) is a Treasury information form separate from your annual IRS income tax return. It requires U.S. persons, including expats, to report their involvement with…

For U.S. expats, managing tax obligations can be particularly challenging, especially when it involves foreign financial accounts. The Foreign Bank and Financial Accounts Report (FBAR) filing, or FinCEN Form 114, is a crucial…

Here’s one of the most frequent questions people ask me about  Foreign Bank Account Reports (FBARs). ‘‘I recently learned about the need to file an FBAR for overseas accounts with over $10,000. I…

Tax laws can be confusing, and matters can become even trickier when foreign financial accounts are added to the equation. If you are a US individual with non-US assets or accounts, one crucial…

If you have a financial interest in a foreign financial account, it may be a requirement for you to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Financial Crimes…

There a number of unique and different due dates that apply to U.S. overseas taxpayers, but some are extremely critical to avoiding harsh penalties if missed. Avoid Disastrous Results – Don’t Miss The…

Disclosing Foreign Bank Accounts Unless you have complied with the FBAR reporting requirements to report your foreign accounts or entered into the Offshore Voluntary Disclosure Program (OVDP), you risk being criminally prosecuted and…

FBAR Willfulness A key determination in whether a taxpayer is subject to criminal and/or civil penalties for the failure to disclose foreign bank accounts on an FBAR is whether the failure to file…

FBAR Late Filing Options The implementation of FATCA and ongoing efforts to uncover FBAR late filing by the IRS, Treasury Department and U.S. government in general to ensure compliance with U.S. tax reporting…