FileAbroadExpat Tax Services
Foreign Account Reporting

FBAR Filing Service

If you have foreign bank accounts exceeding $10,000 at any point during the year, you must file an FBAR (FinCEN Form 114). I ensure your accounts are reported accurately and on time.

Get Help With Your FBAR

$10,000 Threshold

Aggregate value of all foreign accounts at any point during the year

April 15 Deadline

Due with tax return, auto-extends to October 15

Filed Separately

Filed online with FinCEN, not with your tax return

What Accounts Must Be Reported?

The FBAR covers a wide range of foreign financial accounts:

Bank accounts (checking, savings)
Securities accounts (brokerage)
Mutual funds
Pension accounts (in some cases)
Life insurance with cash value
Accounts you have signature authority over

Note: The $10,000 threshold is the combined maximum value of all your foreign accounts at any point during the year, not per account.

FBAR Penalties Are Severe

Non-Willful Violation
Up to $10,000 per violation
For negligent or inadvertent failures to file
Willful Violation
Greater of $100,000 or 50% of account balance
For intentional failure to file or report
Criminal Penalties
Up to $500,000 and/or 10 years imprisonment
For willful violations with tax evasion

How I Help With Your FBAR

Current Year Filing

  • • Review all your foreign accounts
  • • Calculate maximum balances correctly
  • • Convert foreign currencies to USD
  • • Prepare and file FinCEN Form 114
  • • Provide filing confirmation

Catch-Up Filing

  • • Review of past years' account records
  • • Delinquent FBAR submissions
  • • Streamlined Filing Procedures (if eligible)
  • • Reasonable cause statements
  • • Penalty mitigation strategies

FBAR vs. FATCA: What's the Difference?

Many expats need to file both FBAR and FATCA (Form 8938). Here's how they compare:

Comparison of FBAR and FATCA filing requirements
FBARFATCA (Form 8938)
Threshold (Expats)$10,000$200,000 (year-end) or $300,000 (any time)
Filed WithFinCEN (separate system)IRS (with tax return)
DeadlineApril 15 (auto-extends to Oct 15)Same as tax return
What's ReportedBank & financial accountsAccounts + other foreign assets

Many expats meet both thresholds and must file both forms. I can handle both together.

Common FBAR Questions

Do I need to file if I never reached $10,000?

No. The FBAR is only required if the aggregate value of your foreign accounts exceeded $10,000 at any point during the calendar year. If you stayed below, no FBAR is needed.

What about joint accounts or accounts I don't own?

If you have signature authority or financial interest in an account, you may need to report it—even if you don't own it. This includes accounts you can access for business purposes or on behalf of family members.

Does cryptocurrency count?

Currently, crypto held in self-custody wallets is not required on the FBAR. However, crypto held on foreign exchanges may need to be reported. FinCEN has proposed expanding FBAR to include virtual currency—stay tuned for changes.

I missed previous years. What now?

If you qualify, the Streamlined Filing Procedures let you file 6 years of delinquent FBARs without penalties. Alternatively, the Delinquent FBAR Submission Procedure allows late filing with a reasonable cause statement. I can help determine the best path for your situation.

Related Resources

FBAR Filing GuideFBAR Requirement CheckerFBAR Requirements ArticleFBAR vs FATCA

Don't Risk FBAR Penalties

With penalties up to $10,000 per violation (or worse for willful violations), accurate FBAR filing is essential. Let me help you get it right.

Get Started Today