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

Prepare & Submit FBAR

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.

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.

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.

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.

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. ​

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.