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Cross-Border FBAR & FATCA Foreign Asset Compliance

Accurate disclosure of foreign bank accounts, mutual funds, provident funds, and Indian assets on FinCEN Form 114 & Form 8938 to protect against harsh IRS penalties.

Evaluate Foreign Assets Scope View Reporting Thresholds

Cross-Border FBAR and FATCA Foreign Asset Compliance

FinCEN Form 114 Specialist

Penalty-Free Amnesty & Form 8938

Know Your Obligations

FBAR vs FATCA: Key Differences

FinCEN Form 114 (FBAR)

Treasury Dept.

Filing Threshold: Aggregate balance of all foreign accounts exceeds $10,000 at any point during the calendar year.
What is Included: NRE, NRO, Savings, Fixed Deposits, Demat/Trading accounts, and signature authority accounts.
Deadline: April 15 (with automatic extension to October 15).
Non-Compliance Penalty: Up to \$10,000+ per non-willful violation.

Form 8938 (FATCA)

IRS Form 1040

Filing Threshold: \$50,000 on last day of year or \$75,000 anytime for Single filers (\$100,000 / \$150,000 for Married Filing Jointly).
What is Included: Foreign bank accounts, foreign stocks/securities, mutual funds, Indian EPF/PPF, and foreign partnership interests.
Deadline: Filed directly with Form 1040 tax return.
Non-Compliance Penalty: \$10,000 initial fine + up to \$50,000 for continued failure.

Penalty Relief Available

Missed Filing FBAR in Previous Years?

If you failed to report your foreign bank accounts or Indian mutual funds in prior tax years due to non-willful oversight, you can utilize the IRS Streamlined Foreign / Domestic Offshore Procedures. This amnesty program allows you to file 3 years of amended tax returns and 6 years of FBARs without draconian penalties.

Consult on Streamlined Procedures