FBAR Blog & Foreign Account Compliance

Featured FBAR Blog Post

New Foreign Income & Asset Reporting Penalty Examples 2025

Contents1 Foreign Asset Tax & Reporting Compliance 2 Pre-IRS Foreign Penalty Assessment3 FBAR Penalty Assessment4 IRS International Reasonable Cause Penalty Abatement5 […]
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OVDP or FBAR Streamlined: Which Offshore Program is Best?

Contents1 OVDP or Streamlined2 First, What is OVDP/VDP3 Willfulness and OVDP/VDP4 Streamlined Procedure Non-Willfulness Requirement5 Taxpayer is Not Under Audit […]
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FBAR Streamlined Procedures for Taxpayers Living in the U.S.

Contents1 Streamlined Domestic Offshore Procedures (Examples)2 Non-Willfulness Requirement3 Taxpayer is Not Under Audit or Already Penalized4 Previously Timely Filed U.S […]
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2024 Deadline for FBAR is Coming Soon, When is FBAR Due?

Contents1 FBAR Filing Requirements & the IRS2 Who Has to File an FBAR?3 What is Reported on the FBAR?4 When […]
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Explaining FBAR Basics in Under 10 Minutes, FBAR Fundamentals

  Contents1 Explaining FBAR Basics in Under 10 Minutes2 Who is a US Person for FBAR Purposes?3 What Is a […]
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What are the New Procedures for Submitting Delinquent FBAR?

  Contents1 Delinquent FBAR Submission Procedures2 Submission Procedures for Delinquent FBAR 3 Follow these steps to resolve delinquent FBARS4  Review the […]
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Primer on Schedule B, Foreign Accounts and Willful/Non-Willful

Contents1 Understanding Schedule B and Foreign Accounts2 What is Schedule B for Form 1040?3 Part III Foreign Accounts and Trusts4 […]
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Who Should Not Make an IRS Streamlined FBAR Disclosure?

Contents1 Who Should Not Make an IRS Streamlined FBAR Disclosure?2 Taxpayer is Willful3 Taxpayer Did Not File Original Tax Returns […]
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Do You File FBAR for Foreign Retirement Plans, 4 Examples

Contents1 Do I File FBAR for My Overseas Retirement Plans?2 First, Employment Retirement vs Personal Retirement3 Treaty vs Non-Treaty4 Form […]
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Examples of FBAR Willfulness and Non-Willfulness, New Cases

Contents1 Examples of FBAR PenaltyWillfulness and Non-Willfulness2 Totality of the Circumstance Test3 Intent Is Not Required for FBAR Willfulness4 Reckless […]
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When Does the IRS Audit Taxpayers for FBAR, 5 Scenarios

Contents1 FBAR Audits2 Intentionally Unreported Foreign Income3 Willfully Unreported Foreign Accounts Assets4 Incomplete FBAR/FATCA5 Misrepresenting U.S. Person Status to Foreign […]
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9 Top Questions to Ask an FBAR Lawyer Before Hiring Them

Contents1 9 Top Questions to Ask an FBAR Lawyer2 First, Is the Attorney Board-Certified in Tax Law?3 Is the CPA […]
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Foreign Account Quiet Disclosure (FBAR), A Guide for Taxpayers

Contents1 FBAR Quiet Disclosure2 Research and Rabbit Holes3 10 Quiet or Silent Disclosure Risks4 Quiet Disclosure is Illegal5 The Penalties […]
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The Requirements for FBAR Reporting: Deadlines and Penalties

Contents1 What is an FBAR?2 First, Who Has to File?3 What is Reported? 4 What Types of Foreign Accounts are Reported?5 […]
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Can the IRS Reject a Taxpayer’s Streamlined Filing Submission?

Contents1 Can IRS Reject Streamlined Filing Submissions2 Aggressive Certifications are Not Necessary3 Willfulness, But Sorry4 Willful, But Not Sorry (aka […]
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8 New Offshore Disclosure Filing Errors to Avoid in 2024 (New)

Contents1 8 New Offshore Disclosure Filing Errors to Avoid 2 First, Is Your Attorney/EA Really an Offshore Disclosure Specialist?3 Properly […]
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Is a Malta Retirement Plan Reported on FBAR, IRS Compliance

Contents1 Is a Malta Retirement Scheme Reported on FBAR, Missed Filing2 What is the FBAR?3 Who is a U.S. Person […]
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Do You Feel Hopeless Because You Missed Filing the FBAR?

  Contents1 Did You Miss Filing FBAR?2 You Can Regain Your Peace of Mind3 Which Program Do You Qualify?4 What […]
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The FBAR for Expats: A U.S. Tax Guide for Expats Filing FBAR

Contents1 All About Expats and FBAR2 FBAR is Not Limited to Bank Accounts3 Account Held Jointly with Non-Resident4 Full Account […]
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The IRS Plans More FBAR Audits and Examinations in 2024

Contents1 IRS FBAR Examinations2 Continue to File Timely FBARs3 Submit to One of the IRS Offshore Disclosure Programs4 Submit Late […]
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International Tax Form Filing Penalties: Explaining the Basics

Contents1 International Tax Form Filing Penalties2 International Information Return (IIR) Assessable Penalties 3 It is Almost Never Criminal4 You Are […]
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The Options For US Taxpayers with Undisclosed Foreign Assets

Contents1 US Taxpayers with Undisclosed Foreign Assets2 Voluntary Disclosure (VDP/OVDP)3 Streamlined Procedures (SFCP/SDOP/SFOP)4 IRS Delinquency Procedures5 Delinquent FBAR Submission Procedures […]
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The Defenses to FBAR Penalties: FBAR Strategies for a New Year

Contents1 The Defenses to FBAR Penalties2 Non-Willfulness3 Reasonable Cause Defense to Non-Willfulness4 A Warning Letter In lieu of Penalties5 Reduced […]
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