Reporting of Foreign Bank and Financial Accounts
2019 – 04/05 Do you have a foreign bank account or financial account? The IRS is reminding U.S. citizens and resident aliens that an important deadline is approaching. Form 114 (“Report of Foreign Bank and Financial Accounts,” or FBAR) must be filed by 4/15/19. Holders of foreign assets should check to see if they have a U.S. tax liability and a federal tax return filing requirement. Generally, the filing requirement applies to taxpayers with an interest in or authority over foreign accounts with aggregate value over $10,000 at any time during 2018. Contact us for help.