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Hefty penalties can come your way if you forgot or didn’t know you had to file the FBAR, or Foreign Bank Account Report. Depending on your circumstance as an expat, you may have to pay penalties:

penalties not filing the fbar expats
Source: https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

As you can see, these penalties are expensive. To prevent paying such fines, check out our Streamlined Procedure program where you can make up years of back taxes and FBARS for an affordable price.

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