FBAR (Foreign Bank Account Reporting) Help
What Is FBAR and Who Needs to File?
If you are a U.S. taxpayer with foreign bank accounts, investments, or financial accounts totaling more than $10,000 at any time during the year, you are required to file the Foreign Bank Account Report (FBAR).
FBAR is not filed with your tax return. Instead, it must be submitted electronically through the Financial Crimes Enforcement Network (FinCEN) using Form 114.
Failure to properly file FBAR can result in serious IRS penalties — even if the mistake was unintentional.
Why Is FBAR Compliance So Important?
The U.S. government closely monitors offshore financial activity to prevent tax evasion and money laundering. Unfortunately, this means that everyday taxpayers with legitimate foreign accounts can get caught in the IRS’s enforcement net.
Penalties for failing to file FBAR can be severe:
Non-willful violations: Up to $10,000 per account, per year
Willful violations: The greater of $100,000 or 50% of the account balance
In extreme cases: criminal charges
Even honest mistakes can trigger large fines if you don’t correct them quickly.
How TaxWarsUSA Can Help with FBAR
At TaxWarsUSA, our team of licensed Enrolled Agents understands the complexity of foreign account reporting. We help individuals, business owners, and expatriates stay compliant and avoid IRS penalties.
Our FBAR services include:
Determining if you need to file FBAR based on your accounts
Preparing and filing Form 114 (FBAR) accurately and on time
Streamlined filing compliance for taxpayers who missed filings in prior years
Penalty defense and negotiations if you are facing IRS fines
Ongoing compliance strategies so you stay protected year after year
Protect Yourself from IRS FBAR Penalties
If you have foreign accounts and are unsure whether you need to file, don’t take chances with the IRS. FBAR penalties are among the harshest in tax law — but with the right help, you can stay compliant and avoid costly mistakes.
At TaxWarsUSA, our Enrolled Agents fight for taxpayers by providing expert FBAR guidance, penalty relief, and ongoing compliance support.
👉 Contact TaxWarsUSA today for a confidential consultation and get trusted help with FBAR filing and IRS foreign account compliance.