Amend an FBAR Without Triggering IRS Penalties

Understanding FBAR: What It Is and Why It Matters The Foreign Bank and Financial Accounts Report (FBAR) is a mandatory reporting requirement for U.S. citizens, residents, and entities, including corporations, partnerships, and trusts, with financial accounts in foreign countries. Governed by the Bank Secrecy Act (BSA), the FBAR is designed to prevent tax evasion by […]