Unreported Foreign Bank Accounts?
The penalties for FBAR non-compliance are severe, including fines up to 50% of your assets and even imprisonment. We can help you come into compliance safely.
THE IRS IS ACTIVELY PROSECUTING
The IRS has successfully prosecuted hundreds of FBAR cases, with penalties reaching into the millions. You have options, but ignoring the problem is not one of them.
Hubert Johnson
Owner & FBAR Compliance Specialist
Your Two Paths to FBAR Compliance
If you have unreported foreign accounts, there are two ways to move forward. Choosing the right one is critical.
Safe Harbor: Streamlined Application
This is the best option for those whose failure to file was non-willful (not intentional). It provides protection from IRS investigation and prosecution.
Requirements:
- Certify your mistake was not intentional.
- File amended returns for the last 3 years.
- Pay a one-time 5% penalty on the highest aggregate balance.
High Risk: Quiet Disclosure
This involves simply filing amended returns without entering an official IRS program. The IRS heavily frowns upon this method.
The Dangers:
- Offers NO protection from criminal investigation or prosecution.
- Can expose you to much higher penalties (up to 50% of asset value).
- Essentially alerts the IRS to your non-compliance without any safeguards.
Your FBAR Questions, Answered
What's the FBAR filing threshold?
You must file if the combined highest balance of all your foreign accounts was over $10,000 at any point during the year. This is an aggregate amount—not per account.
What if I honestly didn't know I had to file?
This is exactly what the Streamlined Application is for. If your failure to file was non-willful, this program allows you to come forward, get compliant, and be protected from the most severe penalties.
How many years of back-filing are required?
For a Streamlined Application, you generally need to file amended tax returns for the past 3 years and FBAR reports for the past 6 years. We will guide you through this entire process.
What Our Clients Say
Real results from people we've helped.
Joseph S.
★★★★★"Had a really great experience with Hubert and team. They were able to help me navigate the issue at hand. Communication was great. Would definitely refer them to friends and family. Thank you guys!"
Mohamad El-Madhoun
★★★★★"He is an outstanding attorney who handled my tax issues with professionalism and expertise. He made everything clear and worked diligently to achieve the best outcome. Highly recommended!"
C. Flooring
★★★★★"Guardian help me with a complicated IRS situation. They took all the stress off me and always answered any questions I had promptly. Guardian is the absolute best!!"
Andy Renaud
★★★★★"Hubert was a great help in understanding an issue and giving advice. He was transparent on the extent he would be able to help... still provided helpful alternatives. Great to connect with him as a resource."
Understand Your FBAR Requirements
Learn the basics of FBAR reporting, including who needs to file and what the thresholds are, directly from our founding attorney.
Disclaimer: This video is for general guidance and entertainment. It is not legal or financial advice. Consult a qualified professional regarding your specific situation.
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