31 U.S.C. §5314, IRC §6038D
FBAR & FATCA Compliance
If you have foreign financial accounts exceeding $10,000 at any point during the year, you must file an FBAR (FinCEN 114). FATCA reporting (Form 8938) has separate thresholds. Penalties for non-compliance are severe.
Who this may apply to
- Have foreign bank or investment accounts
- Foreign account balances exceed $10,000 (FBAR) or $50,000/$200,000 (FATCA)
What could block this
- No reportable foreign financial assets or accounts
- Applicable aggregate-value and filing thresholds are not met
Professional support
International Tax Specialist
Will ensure all foreign accounts are properly reported, file FBARs, and handle any voluntary disclosure if prior filings were missed.
Official sources
Reviewed 2026-07-24