FBAR — Foreign Bank Account Report.
FinCEN Form 114, filed annually by US persons whose non-US financial accounts together exceeded $10,000 at any point in the year. Separate from your tax return, filed with a different agency, and carrying its own penalties.
Figures on this page are stated for tax year 2025/26 UK · 2025 US. Thresholds change annually.
A disclosure, not a tax
The FBAR taxes nothing — it discloses. Current accounts, savings, ISAs, many pensions, joint accounts and accounts you merely have signature authority over all count toward the aggregate $10,000 trigger, measured at each account's highest balance in the year.
The non-willful maximum is the $10,000 statutory figure as adjusted for inflation — $16,536 for violations assessed since 17 January 2025 — and it attaches to the annual report rather than to each account, which is what Bittner v. United States settled in 2023. Willful penalties scale to half the account balance. The form takes minutes once the account list is right; the cost is entirely in not filing it.
- Filed electronically with FinCEN, due with your return (auto-extended to October)
- Threshold is aggregate across all accounts, not per account
- Missed years fixable via delinquent procedures or Streamlined
Last reviewed · Figures stated for tax year 2025/26 UK · 2025 US. Thresholds and rates change annually — check figures against the current tax year before relying on them.
Behind on FBARs?
Filing them quietly forward is the wrong move. Ask us about the delinquent procedures first.