Individual & Expat Compliance
FBAR (FinCEN 114)
Report of Foreign Bank and Financial Accounts
- Sanzione
- Non-willful penalties exceed $10,000 per violation adjusted for inflation. Willful violations trigger the greater of $100,000 or 50% of account balance, plus criminal exposure.
- Scadenza
- April 15, with an automatic extension to October 15.
- Chi deve presentare
- Any U.S. person (citizen, resident, domestic entity) with a financial interest in or signature authority over foreign financial accounts exceeding $10,000 in aggregate at any time during the calendar year.
- Termine di prescrizione
- 6 years from the filing deadline.
- Parti e annessi chiave
- Part II (Individual Accounts) · Part III (Joint Accounts) · Part IV (Signature Authority)
Dove falliscono le dichiarazioni
- Believing the $10,000 threshold applies per account rather than aggregated across all accounts
- Omitting foreign pension accounts, mutual funds, or foreign crypto custodians
- Failing to convert foreign currencies using the official Treasury Year-End exchange rate
Come lo gestiamo
- Multi-currency peak balance reconciliation across all offshore banks
- Streamlined Foreign Offshore Procedures for non-willful historical non-filing
- Filing through the official BSA E-Filing System with instant transmission receipts
Prossimo passo
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