FBAR Requirement Flowchart
Visual decision tree to determine if you need to file FBAR (FinCEN 114). Download the free PDF and know your obligation in under 5 minutes.
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What’s Inside
Simple yes/no decision tree to determine if you must file FBAR
Clear $10,000 aggregate threshold explanation with examples
Joint account, signature authority, and business account rules
FBAR vs. Form 8938 (FATCA) comparison chart
Penalty overview: non-willful vs. willful exposure
Deadlines and e-filing instructions (FinCEN 114)
What to do if you have never filed before
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Frequently Asked Questions
What is FBAR and who must file it?
FBAR (FinCEN Report 114) is required if you have a financial interest in or signature authority over foreign accounts with an aggregate value exceeding $10,000 at any time during the calendar year.
Does owning one foreign account trigger FBAR?
It depends on the balance. If your single foreign account ever held more than $10,000 during the year, you must file. The threshold is aggregate across all foreign accounts.
What is the difference between FBAR and Form 8938?
FBAR is filed with FinCEN (Treasury) and has a $10,000 threshold. Form 8938 is filed with the IRS (FATCA) and has higher thresholds ($200,000 year-end for single expats). You may need both.
What if I have never filed FBAR before?
If your failure was non-willful, you may qualify for the Streamlined Filing Compliance Procedures or a delinquent FBAR submission. The flowchart includes a recommended next step for non-filers.
Is this flowchart legally binding advice?
No. The flowchart is educational and based on publicly available FinCEN and IRS guidance. For your specific situation, consult a qualified tax professional.
Still Unsure About Your FBAR Obligation?
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