International tax · every year

FBAR and Form 8938 filing for foreign bank accounts

If you have accounts at banks in Russia or any other country, the US expects a separate report on them — even when no tax is due. We file FBAR and Form 8938, find maximum balances using the Treasury exchange rate, and fix missed years.

What our FBAR filing includes

Every account reviewed

Deposits, checking and brokerage accounts, joint accounts and accounts where you only have signature authority.

Converted to dollars

We find the maximum balance of each account for the year and convert it at the official Treasury rate.

FBAR and Form 8938

FBAR goes to FinCEN; Form 8938 goes with your tax return when its thresholds are met.

Missed years

If FBARs were never filed, we choose the way to fix it with the lowest penalty risk.

Why you shouldn't skip FBAR

FBAR isn't a tax, it's a report. But penalties for not filing are separate from taxes and can be out of proportion.

The threshold is lower than it seems

FBAR is required if the total across all foreign accounts exceeded $10,000 on any single day of the year — even if the money is gone by year-end.

Penalties for each year

Non-willful failure to file carries a penalty for every missed year, and willful failure is penalized far more heavily.

Form 8938 is separate

Form 8938 has its own thresholds (single filers in the US: $50,000 at year-end or $75,000 at any time) and its own $10,000 penalty.

The IRS already has the data

Banks in many countries report accounts held by US taxpayers, so mismatches are increasingly found automatically.

FBAR and Form 8938 pricing

up to 5 accounts

$150

FBAR (FinCEN 114)

up to 5 accounts

$150

Form 8938 with your tax return

each additional account

+$35

For both FBAR and Form 8938

Foreign tax credit (Form 1116) — $170. Gifts and inheritances from foreign persons over $100,000 (Form 3520) — $270. See all prices →

What to prepare

A list of all foreign accounts: bank, country, number

Year statements or the maximum balance of each account

Details on joint accounts and signature authority

Prior FBARs and returns, if filed

FBAR FAQ

Do I need to file FBAR if an account has almost no money?

What counts is the total of all foreign accounts. If it exceeded $10,000 on any day of the year, every account must be reported, even small ones.

Do accounts at Russian banks count?

Yes, the country doesn't matter. Report deposits, card and brokerage accounts, and relatives' accounts where you have signature authority.

What's the difference between FBAR and Form 8938?

FBAR is filed with FinCEN separately from your return; Form 8938 is filed with your IRS return. They have different thresholds, and often both are required.

I haven't filed FBAR for several years. What should I do?

Don't quietly file late reports. We review your situation and choose the correction procedure with the lowest penalty risk.

Let’s start with a free 15-minute interview

Send us a request — we’ll get back to you within one business day, hold a free 15-minute interview and give you a price.

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