In the US, with accounts back home
Green card, H-1B or new resident, with accounts in China, India, Canada or elsewhere.
FBAR · FinCEN Form 114
FBAR help from a CPA, this year or the years you missed.
You file an FBAR (FinCEN Form 114) if you're a US citizen, green card holder or US resident and your accounts outside the US added up to more than $10,000 at any time in the year, even if each one is small or shared with a parent. It's due April 15, with an automatic extension to October 15. Missed past years, or not sure what counts? Ask a CPA on a free 10-minute call.
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Who it's for
US citizens in Canada
Canadian bank accounts, RRSPs, TFSAs and RESPs on your FBAR and US return.
Never heard of the FBAR
Your tax software never asked. We find which years are missing and how to fix them.
Family money
Accounts shared with parents, money they hold in your name, or an inheritance from abroad.
Green card or citizenship coming up
Put past FBARs and returns in order before you apply.
Business or signer accounts
A foreign account your company owns, or one you can sign on for work or for a parent.
What we prepare
This year
- FBAR (FinCEN Form 114)Every account, its highest balance and the year-end exchange rate.
- Form 8938With your return, when your foreign assets pass its higher threshold.
- Your US returnForeign interest and dividends, and the Schedule B account questions.
Years you missed
- What's missingWhich years and accounts needed reporting, and whether your returns reported the income.
- Late FBARsEach with a statement of why it is late, as the IRS asks.
- Streamlined or amended filingsWhen income or Form 8938 was also left off, the route that fits your facts.
Canada
- RRSP, TFSA and RESPHow each one is treated on your US return.
- T1 return and Form T1135Your Canadian return, with its foreign property report when needed.
China
- Accounts in ChinaBank, deposit and investment accounts, and which ones need reporting.
- Chinese individual income taxIf you also file in China.
Your quote lists every year and every form before any work starts.
What it costs
Quoted for youAfter your consultation
Quoted after your free call, based on how many accounts and years you need. You see the fee before any work starts.
Free · 10 minutes
Book a consultationHow it works
- 01
Book a free call
Ten minutes by phone. A CPA tells you which accounts and years need reporting.
- 02
Get a quote
Every year and form listed, with the fee, before any work starts.
- 03
Share your statements
Upload them to the secure client portal, never by email.
- 04
Review and file
We walk you through each report and file it once you approve.
What to prepare
Bring what you have. Missing records can be part of the conversation.
- A list of your accounts outside the US: bank, investment, retirement, and any you can sign on.
- The highest balance of each account each year, or statements that show it.
- The years you filed US returns and FBARs, if any.
- Any letter from the IRS about foreign accounts.
Common questions
Short answers here. For your own situation, ask at a consultation.
Book a consultation
Do I need to file an FBAR?
Generally yes, if you're a US citizen, green card holder or US resident and the highest balances of all your accounts outside the US added up to more than $10,000 at any time in the year. Add every account, even small ones, and count accounts you share with others or can only sign on.
Do my accounts back home count?
Yes. Bank, deposit, brokerage and mutual fund accounts outside the US count, and so do Canadian RRSPs and TFSAs. The retirement-plan exceptions cover only US plans. Some accounts need a closer look, such as payment apps or family money in your name; we check yours on the call.
When is the FBAR due?
April 15 after the year you report, with an automatic extension to October 15. You don't need to ask for the extension.
I never filed an FBAR. How bad is it?
Many people learn about the FBAR years late. If it wasn't willful, there can be at most one penalty per year's report, not one per account, and IRS examiners are told not to impose it when there was reasonable cause and accurate late FBARs are filed. Willful failures are treated much more seriously. Your facts decide which applies, so talk to a CPA before you file past years.
What are my options for missed years?
If the IRS hasn't contacted you about them, it says to file late FBARs as soon as possible and explain why they're late. If income from the accounts was also left off your returns, the IRS streamlined procedures cover mistakes that weren't willful. The IRS encourages people to get professional advice on which option fits; we explain yours before anything is filed.
Is there still a penalty-free program for late FBARs?
Not as a separate published program. The IRS options page now lists the streamlined procedures, late international information returns and voluntary disclosure. Whether a penalty applies depends on your facts.
Can I file the FBAR myself?
Yes. Individuals file online through FinCEN's BSA E-Filing System, and filing is free. If you know your accounts and you're on time, you may not need us. People call us for missed years, many accounts or countries, family money, or to do it with their US return.
Is the FBAR the same as Form 8938?
No. The FBAR goes to FinCEN on its own. Form 8938 goes to the IRS with your tax return and has higher thresholds. You may need both, so we prepare them together and the numbers match.
How much does FBAR help cost?
It depends on how many accounts and years you need. You get a quote after your free call, before any work starts, and you decide.
Guides on this topic
- FBAR and Form 8938: Reporting Foreign Accounts to the US
- Catching Up on Missed FBARs and Foreign Forms
- Missed FBAR or TFSA forms after filing US returns from Canada
- How does the IRS treat RRSPs, TFSAs and other registered plans?
- Your First US Tax Return After Arriving or Getting a Green Card
- US Tax and Form 3520 on Gifts and Inheritances From Abroad
Official sources
- FinCEN: Report Foreign Bank and Financial Accounts A US person with a financial interest in or signature authority over foreign accounts files an FBAR when their total value exceeds $10,000 at any time in the year. Individuals file online without registering.
- FinCEN: BSA E-Filing questions There is no cost to file through the BSA E-Filing System.
- IRS: Report of Foreign Bank and Financial Accounts (FBAR) Due April 15, with an automatic extension to October 15. If the IRS has not contacted you about a late FBAR, file it as soon as possible and explain why it is late.
- IRS: Publication 5569, FBAR reference guide Canadian RRSPs and TFSAs are foreign financial accounts reportable on the FBAR. Each US owner of a joint account reports it.
- IRS: Comparison of Form 8938 and FBAR requirements Form 8938 goes with your tax return and has higher thresholds. It does not replace the FBAR; you may need both.
- IRS: Internal Revenue Manual 4.26.16, FBAR penalties A non-willful violation can bring only one penalty per report. The penalty should not be imposed when the violation had reasonable cause and accurate late or amended FBARs are filed.
- IRS: Options for US taxpayers with undisclosed foreign financial assets Lists voluntary disclosure, the streamlined procedures and the delinquent international information return procedures, and encourages getting professional advice on which fits.
- IRS: Streamlined filing compliance procedures For individuals whose failure to report foreign financial assets and pay tax on them was not willful. Not available during an IRS examination or criminal investigation.
Use these for background; they do not replace advice on your situation. Links checked .
