Penalties can be over $15,000 a year for filing errors or not knowing you had to file the FBAR.
Fortunately, you can make up this tax situation with the Delinquent FBAR Submission Procedures amnesty program, as long as you take action before the IRS contacts you and explain why you didn’t file them before (i.e., you were unaware you had to file).
Here’s how can catch up and file your late FBARs for any qualifying years:
- If you already filed your tax return through MyExpatTaxes:
- If you already filed your tax return (either on your own or through another tax company), or if you have not filed your tax return yet:
- If you haven’t filed any tax returns as an expat yet:
You can back file your FBAR through our MyExpatTaxes online portal.
You can back file your FBAR through our MyExpatFBAR online portal or the FinCen portal.
You can make up for lost years using the Streamlined Procedure tax amnesty program for Americans who didn’t know they had to file taxes from abroad.
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