Serving all U.S. citizens and residentsinfo@vataxgroup.com ↗

FBAR & foreign account compliance

Did you hold over $10,000 in overseas accounts?

Protect your assets from drastic FBAR penalties.

Whether you simply didn't know about FinCEN Form 114 or have multiple years of unfiled offshore returns, we guide you into full IRS compliance through Streamlined Procedures and Reasonable Cause relief.

Confidential guidance from experienced tax professionals

The threshold most people miss

$10,000

is the aggregate maximum value—not the balance of any single account.

The cost of waiting

Fear is expensive.
A clear path is not.

FBAR penalties can feel overwhelming, but the IRS offers specific relief for taxpayers who come forward voluntarily. The first step is understanding where you stand.

CategoryIRS assessment riskStreamlined / reasonable cause relief
Non-Willful FailureUp to $16,536 per year/form$0 penalty (Foreign Streamlined) or 5% offshore penalty (Domestic)
Willful Non-FilingGreater of $165,353 or 50% of account balanceVoluntary Disclosure Program (avoids criminal exposure)
Unreported Foreign IncomeBack taxes + 20% accuracy-related penaltiesAmended 1040-X + formal non-willfulness certification

A practical first step

Could you qualify for relief?

Download the Non-Willful Qualification Checklist and get a clearer picture of your situation before you speak with a professional.

  • The combined maximum value of all non-U.S. financial accounts exceeded $10,000 at any point during the calendar year.
  • A prior preparer asked about foreign accounts or checked “No” on Schedule B without asking.
  • Accounts were opened while living overseas, inherited, or used for ordinary family support.
  • Accounts were held under your legal name—not numbered accounts, shell entities, or foreign trusts.
  • Interest and dividend income was reported, or any omission was inadvertent or due to lack of knowledge.

Free guide

Get the checklist

Your information is private and will never be sold or shared. Requests are sent to info@vataxgroup.com.

No judgment. Just a plan.

It's not too late to get right with the IRS.

(727) 855-8883 · Serving all U.S. citizens and residents