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.

What All US Expats Need to Know About Paul Manafort and FBAR

paul manafort tax expat

With President Trump’s former campaign manager Paul Manafort having been found guilty this week of eight out of the eighteen charges that he faced, the acronym FBAR has been in the news again. An FBAR (Foreign Bank Account Report) is an important reporting requirement for Americans with overseas financial accounts, including millions of expats, many […]

Taxes for US Expats – How to File an FBAR (FinCEN Form 114)

expat filing fbar

American citizens and green card holders are required to continue filing US taxes, reporting their worldwide income, after they relocate abroad. This is because the US taxes based on citizenship, rather than on residence like most other countries.   When they file, expats can claim one or more exemptions such as the Foreign Tax Credit […]

Taxes for US Expats – 2018 FBAR Filing Dates and Guidance

expat fbar date 2018

All American citizens and green card holders whose annual income exceeds $10,000, or just $400 of self-employment income, are required to file a US tax return every year reporting their worldwide income. Unlike most other countries, the US tax system doesn’t recognize Americans who live abroad as being any different to those who live stateside, […]

How Do I File an FBAR? Everything US Expats Need to Know

expat files an fbar

The US has a citizenship based taxation system, meaning all US citizens (as well as green card holders) are required to file US taxes, wherever in the world they may reside. This means American expats may find themselves having to file both US taxes as well as foreign taxes in the country where they live. […]

Filing FBARs Late – What US Expats Need to Know

expat filing fbar late

Americans living abroad are required to file a US tax return the same as if they lived in the US, reporting their worldwide income. Fortunately, there are several IRS exemptions such as the Foreign Earned Income Exclusion and the Foreign Tax Credit that they can claim that prevent most expats from paying US tax (although […]