FBAR: Report of Foreign Bank and Financial Accounts

What is an FBAR?

FBAR stands for ‘Foreign Bank Account Report’, a reporting requirement for Americans who have a total of over $10,000 in foreign financial accounts at any time during a year.


Foreign financial accounts include most kinds of bank and investment accounts. Americans who qualify have to report their accounts by filing FinCEN Form 114 online. Find out more here.

Understanding FBAR Filing: Should You Include Online Banks?

money in foreign online bank accounts

As a digitally savvy expat, you likely have some experience with money service providers and payment systems like Wise, PayPal, and others. And it’s all fun and games until it’s time to file your FBAR (Report of Foreign Bank and Financial Accounts), the annual disclosure of your foreign financial accounts held outside the US. Generating […]

FinCEN Form 114: How to File the FBAR

FinCEN Form 114 FBAR

Moving overseas is a major life goal for many Americans. According to a Gallup poll, over 16% of Americans would like to move out of the US in the future. Further, that number is increasing year over year as Americans embrace location-independent work post-COVID.  Whether it’s to retire early or escape the current political climate, […]

FBAR Deadline 2023 – Filing Requirements for US Expats

Tax filing online

Whether you’re a United States expat frantically searching “2023 FBAR deadline” or a seasoned filer staying ahead of the latest FBAR filing requirements, we’re here to answer your FBAR questions.  US expats typically have one or more foreign bank accounts to receive their income and facilitate payment of living expenses. For newcomers to the FBAR […]

Understanding FBAR Penalties

fbar penalties

Becoming an expat can enhance your life in many ways. For many, it may mean you’re no longer beholden to a standard 9 to 5 schedule, and instead free to explore different cities and countries, on your schedule. But, while working remotely offers more flexibility and freedom, it also comes with some important tax reporting […]

FBAR Filing 2024: Clarifying FinCen Form 114 for Expats

US global taxpayer does his FBAR filing at a laptop in a cafe.

The Foreign Bank Account Report (FBAR) is filed using FinCen Form 114, though much about this US reporting requirement is misunderstood. In the following article, we dive into the essential elements of FinCEN Form 114, providing key background information, and detailing who must file and deadlines in 2024. Ensuring adherence to these regulations is key […]

FBAR Filing Requirements for Americans Living Abroad

FBAR FIling Requirements

A Foreign Bank Account Report or FBAR is a filing requirement for Americans with overseas registered financial accounts. The FBAR filing requirement was introduced as part of the 1970 Bank Secrecy Act, and it was intended to reduce offshore tax evasion by resident Americans. Many Americans living abroad fall into the same net: even if their foreign […]

FBAR Late-Filing Penalties: What Happens, How to File & More

2023 FBAR Penalties US Expats

FBAR late-filing penalties can quickly accumulate when you’re a US expat. Officially known as the Foreign Bank Account Report, this administrative form is a common source of frustration for US expats for numerous reasons. Firstly, it’s often difficult to find detailed but digestible information on the topic, including whether or not you need to file […]