Service
FBAR & FATCA Complainc
FBAR & FATCA Complaince
If an American has more than $10,000 in bank accounts outside of the country at any point in the year, they are required to file the Foreign Bank Account Report, or FBAR. Although it has been in effect since 1970, its enforcement has stepped up recently as the US has focused more on recovering taxes from the money and investments of US citizens abroad.
The following information regarding the declared accounts must be kept for six years after the FBAR (Form 114) is filed online:
- A list of account numbers
- The name listed on every account.
- Many kinds of accounts
- Name and location of the foreign institution(s) holding the accounts
- Highest balance in each account for the applicable tax year.
Come to United Taxes if you haven’t filed because you didn’t know you had to, because we have a team of specialists in all things FBAR filing and Streamlined Procedure related. As a leading provider of tax services, United Taxes has clients in more than 150 nations. Do not hesitate to contact us for guidance if you have any questions about your tax position. We’re prepared to hear you.
