FOREIGN FINANCIAL INSTITUTION ACCOUNTS
Business Meeting Discussion

FOREIGN BANK AND FINANCIAL ACCOUNTS REPORT (FBAR)

Every year, under the law known as the Bank Secrecy Act, you must report certain foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds, to the Treasury Department and keep certain records of those accounts. See more details...

IRS FORM 8938, STATEMENT OF SPECIFIED FOREIGN FINANCIAL ASSETS

The Form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. See more details...