Services
FBAR / foreign accounts
If bank or investment accounts remain outside the U.S., we check whether separate FBAR / FinCEN reporting may be required.
Next step
Describe what you have: W-2, 1099, Schedule C, income outside the U.S., foreign accounts, an IRS letter, or another question. We will then suggest the next step.
Who this service is for
For clients who had financial accounts outside the United States during the year. FBAR is a separate reporting obligation and is reviewed separately from the income tax return, although foreign-account information can also matter elsewhere in a client’s tax reporting.
Common situations
- A personal bank account that remained in another country after moving to the U.S.
- A foreign brokerage or investment account.
- A joint account with a spouse or another owner.
- Several smaller foreign accounts that need to be reviewed together.
What to prepare
The general checklist covers basic documents and supporting records. This page lists only the documents relevant to this service.
- A list of foreign banks, brokers, and other financial institutions.
- The type of each account and information about the owner or joint owners.
- The maximum value of each account during the year or records that allow it to be determined.
- Account numbers and financial-institution addresses when needed for the report.
What we review
We first build a complete inventory of the foreign accounts and review which accounts are relevant under the client’s facts. Then we organize the information needed for a separate FBAR filing.
Having a foreign account does not produce the same result for every client. Account type, ownership, values during the year, and the overall foreign-account picture all matter.
Helpful resources
How it works
The workflow and secure document transfer are described in “How it works.” View the workflow
Documents are transmitted only through a secure method after the initial contact.
Common questions
Do foreign accounts need to be reported?
In some cases, yes. If you have bank or financial accounts outside the U.S., we separately check possible FBAR / FinCEN reporting. If foreign-account information is needed, we will provide a table for you to fill in with the required details.
Should I keep documents after filing?
Yes. Keep a copy of the return and supporting records for income, deductions, credits, children, business activity, foreign accounts, and IRS letters.