Clear support for U.S. persons who need to report foreign financial accounts properly and on time.
U.S. persons—including citizens, residents, and certain entities—must file an FBAR (FinCEN Form 114) if they have a financial interest in or signature authority over foreign financial accounts whose aggregate value exceeds $10,000 at any time during the year. FBAR filing is a regulatory requirement, separate from tax returns, enforced by Financial Crimes Enforcement Network (FinCEN). Non-compliance can result in substantial civil penalties—and in willful cases, criminal exposure.
Many people assume that if a foreign bank account is personal, inactive, or already taxed in another country, there is nothing separate to report in the United States. That is often not correct.
FBAR is a separate reporting obligation. A United States person including LLCs must file an FBAR if they have a financial interest in, or signature or other authority over, foreign financial accounts and the aggregate value exceeds $10,000 at any time during the calendar year.
This is where confusion is common. Some people think FBAR is filed with the tax return. Others assume the rule applies only to large balances. Some do not realize that more than one foreign account is added together for the threshold test.
Our FBAR Filing Service ensures accurate identification of reportable accounts, precise completion of Form 114, timely electronic submission, and clear guidance to keep you compliant year after year.
This service may be relevant if:
you are a U.S. citizen, U.S. resident, or U.S. business with foreign bank or financial accounts
you had more than $10,000 in aggregate across foreign accounts at any point during the year
you had signature authority over a foreign account even if you did not personally own all of the funds
you are unsure whether foreign business, brokerage, or other financial accounts count
you missed a prior FBAR filing and want to review the situation properly
you want help understanding how FBAR fits into your broader U.S. compliance position
You received a notice or penalty from FinCEN or the IRS.
FBAR is not filed with the federal income tax return. It is filed with FinCEN.
This matters because people often overlook FBAR when they focus only on the tax return. A person may file their regular return and still miss this separate reporting requirement. It also matters because the filing rule is based on the maximum aggregate value of foreign financial accounts during the year, not only on year-end balances.
A proper review helps determine whether the rule applies, which accounts should be considered, and how the filing should be completed correctly.
We review the foreign accounts, ownership facts, and whether you had financial interest, signature authority, or another reportable connection to the accounts. We focus on account relationships when determining whether FBAR applies.
We assess whether the aggregate value threshold appears to be met and explain how the reporting rule works in clear language.
We help organize the account information and support the electronic FBAR filing process through the correct system.
After the FBAR issue is reviewed, we explain whether related international reporting matters should also be considered, or whether a prior-year compliance review may be needed.
having no awareness that FBAR is a separate U.S. reporting obligation
treating FBAR as part of the regular federal income tax return
assuming FBAR applies only to very large foreign accounts or wealthy taxpayers
reviewing only year-end balances instead of the highest aggregate value during the year
failing to combine multiple foreign accounts correctly for the $10,000 threshold test
overlooking foreign brokerage, investment, pension, or other financial accounts and focusing only on bank accounts
ignoring accounts with signature authority because the filer does not view them as personal assets
assuming a foreign account is irrelevant because tax was already paid in another country
overlooking joint, old, inactive, or family-linked accounts without reviewing whether they still count
misunderstanding the filing deadline and the automatic extension
not gathering complete account records early enough to determine the highest annual balances correctly
confusing FBAR with Form 8938 or other international tax-return disclosures
Depending on the case, this service may include:
review of foreign account facts and filing exposure
assessment of whether FBAR likely applies
practical explanation of who must file and why
support with organizing account information for electronic filing
guidance on the April 15 deadline and automatic October 15 extension
support for prior-year review where missed FBAR issues may exist
explanation of how FBAR differs from return-based international disclosures such as Form 8938
Where needed, we also explain whether additional services may be appropriate, such as U.S. Tax Treaty Research & Analysis, Late & Overdue U.S. Tax Return Filing, or related international compliance review.
Taxivo helps internationally connected clients handle U.S. compliance issues that are often missed because they sit outside the normal tax-return process.
FBAR is one of those areas. The rule sounds simple at first, but people often get caught by the details:
who counts as a U.S. person
what counts as a foreign financial account
how the aggregate threshold works
and where the filing actually goes
Our approach is practical, careful, and easy to follow. We help clients understand the rule clearly and move forward with more confidence.
Who is required to file an FBAR?
A United States person including LLC must file FBAR if they have a financial interest in, or signature or other authority over, foreign financial accounts and the aggregate value exceeds $10,000 at any time during the calendar year.
Is FBAR filed with the IRS?
No. FBAR is filed electronically with FinCEN, not with the IRS, though enforcement is coordinated.
What types of accounts are reportable?
Foreign bank, brokerage, securities, certain retirement accounts, and accounts with signature authority.
What is the FBAR deadline?
Generally April 15, with an automatic extension to October 15—no separate extension form required.
Can you help with late or missed FBARs?
Yes. We assist with delinquent FBAR filings and provide compliance guidance to reduce risk.
What is FBAR?
FBAR is the Report of Foreign Bank and Financial Accounts. FinCEN requires certain U.S. persons to file it when they have a financial interest in, or signature or other authority over, foreign financial accounts above the reporting threshold
Does the $10,000 threshold apply to one account or all accounts together?
The rule applies to the aggregate value of foreign financial accounts, not just one account by itself.
If you are a U.S. person with foreign financial accounts and want to understand whether FBAR applies, Taxivo can help you review the facts and handle the filing clearly.