Resources · Foreign Reporting
FBAR and FATCA: which foreign accounts must be reported
FBAR and FATCA are two separate U.S. reporting requirements for foreign financial assets.
FBAR
FBAR is a FinCen reporting requirement which applies to anyone with foreign accounts exceeding $10,000 at any point in the year. This can be a low threshold for international taxpayers who must be aware. This reporting is not on a tax return but is reported directly to FinCen on Form 114, but the form can be filed online at: https://bsaefiling.fincen.gov/file/fbar. Do not use any link that is not part of fincen.gov.
FATCA
FATCA is an IRS reporting requirement that applies to higher-value assets. This is reported on Form 8938 which is attached to the tax return.
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