American UK Tax Solutions
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Filing Requirements

Report of Foreign Bank and Financial Account (FBAR).

Every US citizen who has a financial interest in or signature authority over a financial account in a foreign country  must file an  annual report if the aggregate balance in the accounts exceeds $10,000 at any time during the calendar year.

The form is called FinCEN Form 114

The Foreign Bank and Financial Account or FBAR must be received by  15 April each year following the year that the account holder meets the $10,000 threshold. However, if the FBAR is not received by that date an extension is automatically granted until 15 October.

  • The FBAR is a separate financial information filing that must be filed with FinCEN by the deadline.
  • There are potentially severe penalties that could be levied for the failure to file an FBAR on time even if no tax is due. It is therefore worth ensuring that this not overlooked.

E- Filing the FBAR

The FBAR must now be e-filed. You can do this here

American UK Tax Solutions is a trading name of Timothy Johnson Ltd a UK firm of Chartered Accountants.
 e-mail info@americanuktaxsolutions.com   tel: +44 (0)20 3174 0640
8 Rhodesia Road : London : SW9 9EL : United Kingdom 
Company Registration Number: 07054106