FBARS FOR US EXPATS
As an American living abroad, you are responsible for not only submitting a Federal Tax Return every year but also- in many cases filing a Foreign Bank Account Report (FBAR) or a Form 8938 under the Foreign Account Compliance Act.
If you have stayed on top of filing your yearly Federal Tax Return, but have failed to file FBARS you can use the streamlined filing procedure applied to the required forms only. Under this scheme, you would have to file 6 years work of FBARS.
For those filing a Federal US tax return with us, FBARs are filed free of charge.
For those who are filing FBAR's independently, we charge £80 per FBAR.
FBARs must be filed electronically through the FinCEN Form 114 by April 15th. For US expats, there is an automatic filing deadline extension to June 15th.