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FBAR – Foreign Bank Account Report

FBAR – Foreign Bank Account Report

SAI CPA Services: Your Trusted FBAR Filing Service Provider in Middlesex County

Every year, under the law known as the Bank Secrecy Act, you must report certain foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds, to the Treasury Department and keep certain records of those accounts. You report the accounts by filing a Report of Foreign Bank and Financial Accounts (FBAR) on FinCEN Form 114.

Expert FBAR Filing Solutions for Businesses in Middlesex County from SAI CPA Services

The FBAR is an annual report, due April 15 following the calendar year reported.
You’re allowed an automatic extension to October 15 if you fail to meet the FBAR annual due date of April 15. You don’t need to request an extension to file the FBAR.

Choose SAI CPA Services for All Your FBAR Filing Needs in Middlesex County

Keeping Records

You must keep records for each account you must report on an FBAR that establish:
Name on the account,
Account number,
Name and address of the foreign bank,
Type of account, and
Maximum value during the year.

You may be subject to civil monetary penalties and/or criminal penalties for FBAR reporting and/or recordkeeping violations.

Professional FBAR Filing Services in Middlesex County: SAI CPA Services

For more information about FBAR, please see “Comparison of Form 8938 and FBAR Requirements” on IRS website.

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