The Report of Foreign Bank and Financial Accounts (FBAR), officially known as FinCEN Form 114, is a critical compliance requirement for U.S. persons holding foreign financial accounts. This guide outlines the key aspects of FBAR reporting, including who must file, what information is required, deadlines, and potential penalties for non-compliance....
Read MoreForeign Bank and Financial Accounts Report Assistance – Independently Operated and Compliant with Filing Standards. Deadline is April 15th 2026. Penalties may apply for late filing.
Penalties for Late Filing
- Civil Penalties: Up to $10,000 per violation for non-willful violations
- Criminal Penalties: Up to $250,000 in fines and imprisonment for up to five years
FBAR E-Filing Assistance
Our independently operated FBAR Filing System simplifies the process of electronically submitting Foreign Bank and Financial Accounts Reports (FBAR) in compliance with the Bank Secrecy Act (BSA). Our services assist U.S. persons in disclosing their foreign financial accounts exceeding an aggregate value of $10,000 to the Financial Crimes Enforcement Network (FinCEN), helping you meet regulatory reporting requirements efficiently and securely.
Important Information about FBAR
- Required by FinCEN under the Bank Secrecy Act
- Applies if foreign accounts exceed $10,000 total at any time
- Covers bank, brokerage, mutual fund, and similar accounts
- Deadline: April 15 (Extension to October 15)
- Penalties can exceed $10,000 for non-compliance
The deadline for filing is October 15 (Extended from April 15). File now to prevent possible fines.
Frequently asked questions
Get answers to the most common questions about FBAR filing and the Bank Secrecy Act requirements.
What is a Foreign Bank Account Report (FBAR)?
A Foreign Bank Account Report (FBAR) is a FinCEN Form 114 that must be filed by U.S. persons who have financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year.
Who is required to file an FBAR?
Any “U.S. person” must file an FBAR if they have a financial interest in, or signature or other authority over, at least one financial account located outside the United States, and the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year. This requirement applies regardless of whether the foreign accounts generated any taxable income during the year.
When must I file my FBAR?
The FBAR is due on April 15 following the calendar year being reported. However, if you miss the April 15 deadline, an automatic extension is granted, extending the due date to October 15. You do not need to request this extension.
What information must be reported on an FBAR?
You must report details such as the account holder’s name, account number, name and address of the foreign financial institution, type of account, and the maximum value of the account during the reporting period.
What are the exceptions to FBAR filing requirements?
Exceptions include accounts owned by governmental entities, certain retirement accounts, and accounts where the U.S. person has signature authority but no financial interest, provided specific conditions are met.
FBAR Useful Information
Access our detailed guidance materials to stay informed about regulatory obligations, filing procedures, and compliance strategies, supporting your business in maintaining transparency and adhering to legal standards.
Report of Foreign Bank and Financial Accounts (FBAR) Penalties
The Report of Foreign Bank and Financial Accounts (FBAR), officially known as FinCEN Form 114, is a critical compliance requirement under the Bank Secrecy Act (BSA). It mandates that U.S. persons disclose their financial interests in or authority over foreign financial accounts exceeding $10,000 in aggregate value at any point...
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