Start Your Foreign Bank & Financial Account Report (FBAR) Filing using our streamlined service.
Filing help and documentation preparation support service for individuals with foreign bank accounts.
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What is the FBAR Ownership Information Report (FBAR)?
The FBAR is a mandatory filing requirement under the Bank Secrecy Act (BSA) for U.S. persons with foreign financial accounts exceeding $10,000 in aggregate value at any time during the calendar year. This report enhances financial transparency and helps combat financial crimes, such as tax evasion and money laundering.
Key Points About the FBAR:
- Mandated by: Financial Crimes Enforcement Network (FinCEN)
- Applies to: U.S. persons (including individuals, businesses, trusts, and estates) with foreign financial accounts
- Filing deadline: April 15
- Penalties: Civil penalties of up to $10,000 per non-willful violation and severe fines or imprisonment for willful violations
Need to file an FBAR?
Stay compliant with the Bank Secrecy Act (BSA) by filing your FBAR accurately and on time to avoid penalties.
What Information is Reported?
Individuals and entities required to file an FBAR must report details about their foreign financial accounts, including:
- Full legal name
- Date of birth
- Current residential or business address
- Financial account details and location
Why is the FBAR Important?
The FBAR plays a critical role in promoting financial transparency and compliance by:
- Combating money laundering and financial crimes
- Ensuring accountability for individuals and entities with foreign accounts
- Providing valuable information to law enforcement for investigations
Follow 3 Step Filing Process
Provide Your Information
Provide basic details on the Filer including physical address, tax identification number, such as the EIN and address.
Financial Information
Provide the foreign bank and financial accounts that exceeded $10,000 in the aggregate at anytime in the calendar year. Information gathered will be amount, if known, account details and country.
Compliance and Filing
Verify and acknowledge the details of the filing process, review timelines, and the importance of providing accurate information before submitting for filing.
We prepare and e-file your FBAR through FinCEN’s E-Filing system. We will send you the Tracking and BSA ID provided from FinCEN.
Frequently Asked Questions
Who Must File an FBAR?
A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10.000 at any time during the calendar year.
When must the FBAR be filed?
The FBAR must be received by the Department of the Treasury on or before April 15th reported. The April 15th filing date may not be extended.