FinCEN Form 114, FBAR
Filing Your Report of Foreign Bank Accounts (FBAR)
Filing your Report of Foreign Bank Accounts (FBAR), officially known as FinCEN Form 114, is a crucial obligation for US persons with foreign bank accounts. Each year by June 30, a US person must assess their foreign bank accounts to determine if they meet the FBAR filing requirements for the previous tax year.
Who Needs to File an FBAR?
A US person triggers an FBAR filing obligation if they have:
- A financial interest in one or more non-US bank accounts, or
- Signatory authority over one or more non-US bank accounts,
and the aggregate balance of these accounts exceeds $10,000 at any time during the year.
This threshold applies regardless of where you live, making foreign bank account reporting essential for all qualifying individuals.
How to File Your FBAR
FBARs must be filed electronically directly with the US Department of Treasury using the BSA E-Filing System. Since July 1, 2013, all FBAR filings require online submission via the official FinCEN website. Paper forms are no longer accepted.
>> Click here to file your FBAR and submit your information securely online.
Important Filing Details
- The FBAR is a reporting requirement, not part of your US tax return.
- It is separate from Form 8938 (Statement of Foreign Financial Assets), though many taxpayers must file both.
- Each tax year requires its own FBAR filing.
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📞 If you want assistance with your US tax filings or have questions about your FBAR reporting obligations, please fill in the form at the bottom of this page.
