Douglas Spence & Associates CPAs | FBAR Reporting
Do you have more than $10,000 USD in offshore accounts? Helping Americans file their FBAR with U.S. Department of Treasury.
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Any US citizen who has a financial interest in (or signatory authority over) any financial account in a foreign country may be required to file Fin CEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) with the U.S. Department of Treasury.
If the sum total of all your offshore accounts exceeds $10,000 USD at any time of the year, as an American you are required to file an FBAR. Failure to comply may result in Civil penalties of up to $10,000 USD per violation. Douglas Spence & Associates CPA can help you to return to compliance.
Contact us today for a consultation.