FBAR/FATCA Reporting

Our FBAR/FATCA reporting services are designed to assist U.S. taxpayers in complying with the Foreign Account Tax Compliance Act (FATCA) and the Report of Foreign Bank and Financial Accounts (FBAR) requirements. These U.S. regulations mandate the reporting of foreign financial assets and accounts.

The first step in our service involves the identification of reportable assets. We guide you in determining which foreign financial assets fall under the purview of FATCA and FBAR regulations. These could encompass a range of assets, including bank accounts, brokerage accounts, mutual funds, trusts, or other types of foreign financial assets.

Once the reportable assets are identified, we assist in the preparation and filing of the necessary forms. This includes Form 8938 for FATCA and FinCEN Form 114 for FBAR. Our team ensures that these forms are accurately filled out and submitted within the stipulated deadlines.

In addition to the identification and reporting of assets, we provide valuable compliance advice. This includes guidance on understanding the thresholds for reporting, which can vary based on factors such as marital status and whether you reside in the U.S. or abroad.

Lastly, for those who have previously failed to report, we offer assistance in becoming compliant through programs like the IRS’s Streamlined Filing Compliance Procedures. Our goal is to simplify the process of reporting foreign financial assets, ensuring you meet your obligations under U.S. tax law while minimizing stress.