FBAR Filing Requirement Checker

US persons must file FinCEN Form 114 (FBAR) if the aggregate maximum value of all foreign financial accounts exceeded $10,000 at any point during the calendar year. Add each account to see if you hit the threshold.

Add each foreign bank, investment, or financial account you held during the year.

FBAR Penalties (Why This Matters)

Non-willful violation: Up to $10,000 per account per year (indexed for inflation — currently up to ~$15,611).

Willful violation: Greater of $100,000 or 50% of account balance per year. Criminal penalties possible (up to 5 years imprisonment).

Late filing with no penalties: Possible through the Streamlined Filing Compliance Procedures (for non-willful violations). Self-disclosure is always better than IRS discovery.

Who must file: US citizens, US residents, and entities (corporations, partnerships, LLCs) formed in the US, regardless of where they live.

Where to file: FinCEN BSA E-Filing System at bsaefiling.fincen.treas.gov — NOT with your tax return.