Crucial FBAR Reporting: What US Expats Must Know About Foreign Bank Accounts & Penalties скачать в хорошем качестве

Crucial FBAR Reporting: What US Expats Must Know About Foreign Bank Accounts & Penalties

For US citizens living abroad, understanding the FBAR (Report of Foreign Bank and Financial Accounts) is not optional – it's a critical annual requirement with serious consequences for non-compliance. In this vital segment from "The Interchange Podcast with Latife Hayson," Seth Hertz of Expat US Tax breaks down everything you need to know about FinCEN Form 114. Seth clarifies which foreign bank and financial accounts must be reported if their aggregate value exceeds $10,000 at any point during the calendar year. This includes not just traditional bank accounts, but also brokerage accounts, mutual funds, superannuation accounts and even certain life insurance policies with cash value. He explains the severe penalties for failing to file the FBAR, which can range from significant fines for non-willful violations of up to $10,000 per violation per year to significantly higher penalties for willful disregard. Don't risk your financial future by overlooking this essential obligation. This discussion is a must-listen for all US expats to ensure full compliance and avoid fines from the IRS for filing late or not at all.  To learn more about mandatory annual reporting of all foreign bank accounts, our full interview will be released on July 7, 2025:    / @latifehayson      Feel free to share your comments and experiences with the challenges of the US’s Citizen-Based Taxation in the comments section below. Subscribe now on YouTube, Spotify, Apple Podcasts, Amazon Music, and more! Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/0NQU3P8... Amazon: https://www.amazon.com/The-Interchang... #FBAR #FinCENForm114 #USExpatTax #ForeignBankAccounts #ExpatCompliance