Have Foreign Bank Accounts

Have Foreign Bank Accounts? Don’t Miss the FBAR Deadline

Taxpayers with foreign financial accounts may need to file a Report of Foreign Bank and Financial Accounts (FBAR) for 2025 by April 15. These include taxpayers with a financial interest in or signature authority over bank accounts, brokerage accounts or mutual funds in a foreign country. The FBAR (FinCEN Form 114) is required if the aggregate value of all such accounts exceeds $10,000 at any time during the calendar year reported. If you miss the April 15 deadline, the IRS will automatically provide a filing extension to Oct. 15. Be aware that the form is filed electronically through FinCEN’s BSA E-Filing System, not with your tax return. Contact us with questions or visit: https://bit.ly/4iYyWgo