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.

FBAR News

Foreign financial accounts include most kinds of bank and investment accounts. Americans who meet the $10,000 in foreign accounts threshold have to report their accounts by filing FinCEN Form 114 online.

How to File FBAR Online – A Guide for Expats

How to File FBAR Online – A Guide for Expats

Many American expats are surprised to learn that they have to report their global income on a US tax return every year, often as well as having to file foreign taxes in their country of residence. They have to file a US return because the US taxes all of its citizens (and green card holders), […]

Foreign Account Reporting Rules for US Expats

Foreign Account Reporting Rules for US Expats

Americans who move abroad have to continue filing US taxes on their global income. This is because the US taxes all US citizens (and green card holders), wherever they live – including abroad. Most other countries only tax their residents on their worldwide income, or only tax income arising within the country, regardless where the […]

FinCEN Form 114 vs IRS Form 8938 – What Expats Need to Know

FinCEN Form 114 vs IRS Form 8938 – What Expats Need to Know

All Americans have to file US taxes, reporting their global income. Expat Americans also often have to file additional reporting forms. Many expats aren’t aware though what exactly these additional reporting requirements involve, and in particular the difference between FBAR and FATCA reporting, or Form 114 vs 8938. In this article we’ll attempt to alleviate […]

Filing FBARs Late – Delinquent FBAR Procedures for Expats

Filing FBARs Late – Delinquent FBAR Procedures for Expats

American expats are required to file US taxes, reporting their worldwide income, despite living abroad. When expats file, they can claim one (or in some cases multiple) IRS provisions to reduce their US tax bill, such as the Foreign Earned Income Exclusion and the Foreign Tax Credit. That also have to report their foreign business interests. […]

US Taxes for Expats – FBAR Filing Deadline 2020

US Taxes for Expats – FBAR Filing Deadline 2020

If living abroad requires courage and mental fortitude, in return it rewards expats with the experience of a lifetime. Americans who live abroad still have to file US federal taxes though, reporting their global income. Many also have to file foreign taxes in the country where they live, and possibly US state taxes too. This […]

FBAR Bank Account Reporting for US Expats – The Ultimate Guide

FBAR Bank Account Reporting for US Expats – The Ultimate Guide

Over 9 million Americans have chosen to embrace the adventure of a lifetime – living abroad. Many don’t realize though that the US tax system requires all US citizens to file US taxes, reporting their worldwide income, wherever in the world they might be. In contrast, most other countries either just tax residents, or just tax income […]

Should Expats Report a Mortgage Account in an FBAR?

Should Expats Report a Mortgage Account in an FBAR?

Americans living abroad are required to file US taxes, reporting their worldwide income.   To avoid paying any US taxes when they file, expats can claim one or more exemptions that the IRS has made available. There are also additional reporting requirements for US expats, notably reporting their foreign financial accounts annually by filing a […]

US Taxes for Expats – FBAR Filing Deadline 2019

US Taxes for Expats – FBAR Filing Deadline 2019

All American citizens and green card holders, including expats, are required to file an annual federal tax return, reporting their worldwide income. Filing a US tax return from abroad as an expat is typically more complex than filing in the US though due to additional filing requirements. For example, the majority of expats can avoid […]

FBAR for Expats – What You Need to Know

FBAR for Expats – What You Need to Know

American expats are fortunate in many ways, not least because living abroad and engaging with another culture is the experience of a lifetime. There is one sense in which US expats are less fortunate though, in that they are required to file US taxes from abroad, reporting their worldwide income, regardless of whether they are […]