The Bank Secrecy Act (“BSA”) requires United States persons (“USPs”) to file FinCEN Forms 114, Report of Foreign Bank and Financial Accounts (“FBARs”), for each calendar year in which the aggregate ...

What are your FBAR requirements as a U.S. person or taxpayer for an offshore account, group of accounts, property, or investment? The penalties for non-compliance with reporting offshore accounts, ...

Under the Bank Secrecy Act, U.S. taxpayers must file an FBAR (FinCEN Form 114) if their foreign financial account balances exceed $10,000 in aggregate at any point during a calendar year. A failure to ...

IRVINE, Calif., April 14, 2023 /PRNewswire/ -- U.S. citizens who hold foreign bank accounts valuing more than $10,000 on any day of the year are required to report file a Report of Foreign Bank and ...