We can help you with that. Our intuitive expat tax software allows you to report financial assets simply and smoothly. Financial assets you can report include: Cash, bank account deposits,…
By loading the video, you agree to YouTube’s privacy policy.Learn more Load video Always unblock YouTube When you’re US citizen, you may be required to report your non-US financial accounts…
Anyone who must file or pay US taxes from abroad are required to file the FBAR once their financial accounts have reached the FBAR filing threshold as stated below. The…
Curious to know about calculating the total balance for all your overseas financial accounts? Here’s an example: You have 3 bank accounts: 2 from Italy, 1 from the US. You…
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,…
Expats have an automatic extension to file the FBAR until October 15th. The FBAR only needs to be filed if you have had $10,000 or more combined from foreign financial…
Since FBARS are filed through FinCen and not the IRS, penalties can be as high as $10,000 a year for filing errors or not knowing you had to file. Fortunately,…
Yes, if you close the financial account, you should report it. Also, don’t forget to report the closing balance of the financial account in FBAR and FATCA forms while filing…
If spouses only have joint foreign accounts then, they can file one FBAR. However, if both spouses have at least one individual foreign account then they have to file one…
If you don’t have a foreign account you don’t have to prove it. However, if you do have a foreign account and don’t report it, you could get fined, because…
There is no tax on the FBAR values; FBAR reports are for informational purposes only.
Yes, you will need to include any joint accounts on your FBAR, however your non US citizen/Green Card Holder spouse does not need to file their own FBAR.
You should file an FBAR if the total of all financial accounts combined exceed the $10,000 threshold. Even for one day! Keep in mind that you won’t be taxed on…
The fee (€49 / USD 59) is per year of FBAR filing, regardless how many accounts you have to report for any given year!
Yes, you can digitally submit your finished FBAR to FinCEN with MyExpatFBAR.
By filing the FBAR, you are informing the Treasury Department about your foreign accounts, this way you are helping them in preventing tax evasion.
FBAR | File US Taxes From Abroad The FBAR (Foreign Bank Account Report) is essentially a form that you as a US American abroad may be required to fill out…
Any financial account (bank, pension, investment vehicle, etc.) that is located outside of the U.S.
FATCA? What the Heck Is It? | File US Taxes From Abroad The FATCA, or Foreign Account Tax Compliance Act, is what gives US Citizens and Green card holders living…
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