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FBAR and foreign asset reporting for US persons with accounts abroad

A US person with foreign financial accounts over $10,000 in combined value at any point in the year files FinCEN Form 114. Certain foreign assets also require Form 8938 with the tax return.

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Annual obligationUS person, foreign accounts

FBAR (FinCEN 114)04/15, auto-extended to 10/15

Threshold, aggregate value$10,000

Form 8938, if applicablewith your return

Penalty exposureapplies even without intent

Civil penalties can apply to a missed FBAR even when the omission was not willful, and can multiply across accounts and across the years that were missed.

Where this bites

The threshold is aggregate, and it catches more accounts than people expect

FBAR exposure is usually missed not because someone hid an account, but because nobody added every account together in the first place.

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The $10,000 threshold is aggregateAdd together the highest balance of every foreign account during the year, not just the largest one

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Signature authority counts, not just ownershipAn account you can sign on but do not own can still trigger the filing

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FBAR and Form 8938 are separate filingsDifferent thresholds and different forms, and both can apply to the same accounts

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A missed filing carries a penalty without intentNon-willful penalties can still apply even when the omission was a genuine oversight

What’s included

Every account inventoried, before anything is filed

Account inventory

Every foreign account identified, including signature-only authority you may not have considered reportable.

FBAR preparation & filing

FinCEN Form 114 filed electronically before the deadline.

Form 8938 review

Prepared with your return where the specified foreign asset threshold is met.

Prior-year catch-up

Streamlined or delinquent filing procedures assessed if a year was missed.

How it works

Five steps, one fixed fee

01

Inventory foreign accounts and signature authority

02

Confirm FBAR and Form 8938 thresholds

03

Prepare and file FinCEN Form 114

04

Prepare Form 8938 with the return, if required

05

Assess catch-up options for any missed year

Fees

You will know the number before we start

Fees are scoped from the number of accounts and whether prior years need to be caught up, and fixed before we start work.

How our pricing works →

LicensedCPA · Montana

FocusInbound to the US

DeliveryRemote, by design

FeesFixed, quoted up front

BillingNever hourly

Next step

Tell us what you hold abroad.

A short set of questions about your foreign accounts and signature authority. We come back with a scope and a fixed price.

Start scoping →