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Many U.S. taxpayers are surprised to learn that they must report foreign bank accounts, investment accounts, retirement accounts, and certain foreign financial assets—even isdsdf they have already paid taxes in another country.
If you recently discovered that you should have filed an FBAR (FinCEN Form 114), Form 8938, or other international information returns, don’t panic. The IRS offers the Streamlined Filing Compliance Procedures for eligible taxpayers whose failure to comply was non-willful.
This program allows many taxpayers to become compliant while significantly reducing or eliminating penalties.
Unreported Foreign Accounts
Determine Eligibility
Streamlined Domestic / Foreign
IRS Compliance
Many U.S. taxpayers are surprised to learn that they must report foreign bank accounts, investment accounts, retirement accounts, and certain foreign financial assets—even if they have already paid taxes in another country.
If you recently discovered that you should have filed an FBAR (FinCEN Form 114), Form 8938, or other international information returns, don’t panic. The IRS offers the Streamlined Filing Compliance Procedures for eligible taxpayers whose failure to comply was non-willful.
This program allows many taxpayers to become compliant while significantly reducing or eliminating penalties.
