FBAR/FATCA Reporting Calculator
Determine foreign account reporting requirements and penalties.
FBAR Requirement
Threshold:$ 10000
Your Total:$ 150000
Required:Yes
Form:FinCEN Form 114 (FBAR) - filed electronically
Deadline:April 15 (auto extension to Oct 15)
FBAR aggregates ALL foreign accounts. $10,000 threshold is total, not per account.
FATCA (Form 8938) Requirement
End-of-Year:$ 50000
Anytime Max:$ 75000
Required:Yes
Form:Form 8938 - Statement of Specified Foreign Financial Assets
Deadline:April 15 (with tax return)
FATCA thresholds vary by filing status and residence. Higher than FBAR.
⚠️ Penalty Warning
FBAR Non-Willful:$ 15637
FBAR Willful:$ 75000
FATCA Initial:$ 10000
Willful FBAR: up to $156k or 50% of balance. FATCA: $10k initial, $50k continued.
Threshold Comparison
FBAR: $10,000 (aggregated, all filers)
FATCA Single US: $50,000 EOY or $75,000 anytime
FATCA Married US: $100,000 EOY or $150,000 anytime
FATCA Abroad: $200k-$400k (higher thresholds)
FBAR threshold is lower. Many must file FBAR but not FATCA.
Reportable Account Types
- Bank accounts (checking, savings)
- Investment accounts (brokerage)
- Pension/retirement accounts
- Insurance policies with cash value
Bank, investment, pension, and insurance accounts with cash value.
Required Information
- Account number
- Name of financial institution
- Maximum value during year
- Address of institution
- Type of account
Gather this information before filing. Maximum value during year required.
Recommendation
Both FBAR and Form 8938 required - file both by April 15
FBAR/FATCA Key Points
- FBAR: $10k threshold, all accounts
- FATCA: higher, varies by status
- FBAR deadline: April 15
- FATCA: with tax return
- FBAR: electronic only (BSA)
- Penalties: up to $156k willful
- 50% of balance possible
- Voluntary disclosure available
- Streamlined procedures
- File timely to avoid penalties