FinCEN Form 114 (FBAR), explained without the jargon.
If you're a U.S. person with foreign bank or financial accounts, the FBAR is one form you can't afford to misunderstand. We break down deadlines, penalties, and filing steps in plain English — backed by primary sources.
One overlooked form. Real consequences.
The FBAR isn't part of your tax return, isn't filed with the IRS directly, and follows its own deadline rules — which is exactly why so many U.S. persons miss it.
It's Separate From Your Tax Return
The FBAR (FinCEN Form 114) is filed electronically with the Financial Crimes Enforcement Network, not attached to your Form 1040. Different system, different deadline, different rules.
The Threshold Is Easy to Cross
Once the combined value of your foreign financial accounts tops $10,000 at any point in the year — even for one day — a filing obligation is triggered.
Penalties Can Be Steep
Even non-willful violations can carry meaningful penalties per report, and willful violations escalate sharply. Understanding the rules upfront is the best defense.
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Practical, source-backed articles covering every stage of the FBAR filing process.
What Is an FBAR? Understanding FinCEN Form 114
A clear, beginner-friendly explanation of the FBAR, why it exists, and how it differs from your regular tax return.
Read the guideWho Must File an FBAR? A Complete Guide to U.S. Person Requirements
Citizens, green card holders, resident aliens, trusts, and businesses — find out exactly who falls under the FBAR filing requirement.
Read the guideFBAR Filing Deadline: Due Dates, Extensions, and What Happens If You're Late
The FBAR deadline trips up more filers than any other rule. Here is how the April 15 due date and automatic extension actually work.
Read the guideFBAR Penalties Explained: Non-Willful vs. Willful Violations
How the IRS distinguishes an honest mistake from willful non-compliance, and why the Supreme Court's Bittner decision matters.
Read the guideFBAR vs. FATCA Form 8938: Key Differences Every Filer Should Know
Two forms, two agencies, two sets of thresholds. Here is a side-by-side comparison so you know which ones apply to you.
Read the guideFBAR Filing Checklist: Documents and Information You'll Need
A practical, step-by-step checklist to gather account numbers, maximum balances, and institution details before you file.
Read the guideThe core rule in one paragraph
A "U.S. person" — which includes citizens, green card holders, resident aliens, and domestic entities — must file an FBAR if they had a financial interest in, or signature authority over, one or more foreign financial accounts whose combined value exceeded $10,000 at any time during the calendar year. The FBAR is filed electronically through FinCEN's BSA E-Filing System, separately from your federal income tax return.
Missing the deadline doesn't necessarily mean a penalty is automatic — the IRS offers several catch-up procedures depending on why the filing was missed. Our guide to delinquent filing walks through the options.
See Frequently Asked QuestionsAt a Glance
- Form nameFinCEN Form 114
- Filed withFinCEN (BSA E-Filing)
- Reporting threshold$10,000 aggregate
- Standard deadlineApril 15
- Extended deadlineOctober 15 (automatic)
- Governing lawBank Secrecy Act
Not sure where to start?
Our foundational guide walks through exactly what the FBAR is, why it exists, and whether you need to file one this year.
Read: What Is an FBAR?