Background reading: For technical details about who must file, thresholds, definitions, and deadlines, see our guide: Foreign Bank Account Report (FBAR) – Tax Guide.
FBAR Filing Service — Frequently Asked Questions
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Please provide: your legal name and TIN, address, date of birth (for individuals); a list of all foreign accounts; bank/financial institution names and addresses; account numbers/IBAN/SWIFT; account type; owner(s) and any joint owners; whether you have signature authority; and the maximum value for each account during the year (in original currency if not USD). If available, upload year-end statements or balance summaries to support the figures.
Use the highest balance at any point during the year (not just year-end). For non-USD accounts, we convert to USD using the Treasury’s year-end exchange rate and then round up to the next whole dollar. If multiple currencies are involved, we apply the correct rate to each account and compute the aggregate.
For FBAR, we use the U.S. Treasury’s December 31 Treasury Reporting Rates of Exchange for the year reported. If the Treasury does not publish a rate for a currency, we’ll discuss an acceptable alternative.
Often yes. Individuals with signature authority (but no financial interest) over foreign accounts may have a filing requirement unless a specific exception applies (e.g., certain employer or public company contexts). We’ll screen your facts against the exceptions.
No. The filing threshold is based on the aggregate maximum value of all foreign accounts at any time during the year. If it never exceeded $10,000, no FBAR is required. (You may still have other reporting, such as Form 8938.)
If all reportable accounts are jointly owned, spouses may file one FBAR using Form 114a to authorize a single electronic signature. Otherwise, each spouse files separately, each reporting the full value of the jointly owned accounts. Form 114a is a record — it is not submitted to FinCEN but must be retained.
Yes. If you miss April 15, there’s an automatic extension to October 15. After that, we can still file a delinquent FBAR and include the appropriate explanation where warranted. We’ll discuss whether reasonable cause applies and how to document it.
Maintain account holder information, account numbers, bank name/address, account type, and maximum value for each account for 5 years after the report’s due date. Keep copies of filed FBARs and supporting statements.
No. FBAR (FinCEN 114) is a Treasury filing under the Bank Secrecy Act. Form 8938 is an IRS form filed with your income tax return and has different thresholds and scope. We check both requirements and prepare what’s needed.
With your signed Form 114a, we e-file via our BSA E-Filing institutional account. You receive a filing confirmation, a PDF copy of the FBAR, and a retention checklist. We also calendar future deadlines for you.
Ready for us to prepare and e-file your FBAR? Contact us or review our pricing.