Reporting of foreign bank accounts – FATCA

U.S. citizens and residents are required to disclose every year their foreign bank accounts (FBAR) to the Department of Treasury if the aggregate amount on these accounts exceeds $10,000.

Since 2010, FATCA has added an extra burden since foreign bank accounts and financial assets must now be also reported to the IRS on form 8938 filed along with the income return.

If you live in France, you must also report all non-French bank accounts to the French Fisc on form 3916.

Our firm handles all your foreign bank account reporting, including if necessary the filing of delinquent FBARs for prior years.