FBAR GURU

FBAR GURU ▪ U.S. persons who have a financial interest in or signatory authority over foreign/overseas financial accounts that exceed certain threshold at any time

persons who have a financial interest in or signatory authority over foreign/overseas financial accounts that exceed certain threshold at any time during the year must report the accounts by June 30 of the following calendar year under Foreign Bank Account Report (FBAR).

▪ Foreign pensions, Foreign stockholdings, Foreign partnership interests and Foriegn Financial accounts are also to be reporte

d under Foreign Account Tax Complaince Act (FATCA) along with the tax returns.

▪ Deadline is approaching fast. June 30 is the deadline for U.S. taxpayers, just like April 15.

▪ No extension available for filing FBAR.

▪ The penalties for non-compliance can be staggering and may be assessed up to $10,000 per violation; may also be subject to civil and criminal penalties for willful failure of disclosure.

01/21/2016
06/11/2015

U.S. persons who have a financial interest in or signatory authority over foreign/overseas financial accounts that exceed certain threshold at any time during the year must report the accounts by June 30 of the following calendar year under Foreign Bank Account Report (FBAR).

Foreign pensions, Foreign stockholdings, Foreign partnership interests and Foriegn Financial accounts are also to be reported under Foreign Account Tax Complaince Act (FATCA) along with the tax returns.

Deadline is approaching fast. June 30 is the deadline for U.S. taxpayers, just like April 15.

No extension available for filing FBAR.

The penalties for non-compliance can be staggering and may be assessed up to $10,000 per violation; may also be subject to civil and criminal penalties for willful failure of disclosure.

06/11/2015

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Santa Clara, CA
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(408) 836-0485

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