Corporate Transparency Act

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Individuals Filing the Report of Foreign Bank and Financial Accounts (FBAR)

FBAR is required to be filed by U.S. citizens, permanent residents (green card holders) and resident aliens who own or had authority over a foreign (non U.S.) financial account, including a bank account and the combined value of the accounts exceeded $10,000 at any time during the calendar year. Penalties for non filing are significant. FBAR information must be submitted electronically by April 15th.

A U.S. taxpayer residing overseas is required to comply with IRS filing requirements for U.S. federal income tax returns and/or Reports of Foreign Bank and Financial Accounts (FBARs).

Other Website Links
FBAR Electronic Filing Link

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