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FBAR and FATCA reporting help for foreign accounts and assets

Foreign financial accounts and assets can trigger more than one U.S. reporting analysis. FinCEN Form 114, commonly called the FBAR, is separate from IRS Form 8938, and the forms use different definitions, thresholds, and filing methods. Tavella CPA Group reviews accepted foreign-account and foreign-asset reporting with the connected U.S. return, identifies the forms included in scope, and confirms the records and deadlines needed before preparation begins.

Discuss Foreign-Account Reporting

Foreign-account and foreign-asset reporting this service can review

  • Foreign bank, brokerage, and other financial-account inventories
  • Ownership, joint ownership, financial interest, and signature-authority facts
  • Maximum account values, currencies, institutions, countries, and account identifiers
  • FinCEN Form 114 filing questions when accepted
  • IRS Form 8938 filing questions with an accepted income-tax return
  • Foreign income reported on the connected U.S. federal return
  • Current-year and prior filing histories that may require separate review
  • Secure collection of statements and sensitive account records after engagement setup

BEFORE YOU REQUEST A CALL

See what fits this service and what is scoped separately

This service may be a fit when

  • U.S. persons who need foreign financial accounts reviewed for potential FBAR reporting
  • Specified individuals who need foreign financial assets reviewed for potential Form 8938 reporting with a U.S. return
  • Taxpayers who need foreign income and account information coordinated with an accepted U.S. individual return
  • People who want the forms, tax years, accounts, records, deadlines, and fee identified before work begins

These items require separate scope or another professional

  • Delinquent FBAR procedures, reasonable-cause positions, penalty advice, notices, examinations, appeals, or litigation
  • Foreign corporations, partnerships, trusts, gifts, inheritances, pensions, investment funds, or other international information returns unless separately reviewed and accepted
  • Legal ownership opinions, foreign-law advice, immigration advice, and foreign-country filings
  • Every account, asset, entity, owner, tax return, year, amendment, or advisory matter not listed in the written engagement

Build the account and asset inventory before deciding which forms apply

Begin with the taxpayer's U.S. tax status, countries, tax year, filing status, residence, general account and asset categories, ownership or authority, highest approximate values, prior FBAR or Form 8938 filings, and the next deadline. Do not place account numbers, statements, taxpayer-identification numbers, or login credentials in the public form. Accepted forms, tax returns, years, and fees are confirmed in writing before secure records are requested.

COMMON QUESTIONS

Questions about fbar and fatca foreign-account reporting

Are FBAR and FATCA reporting the same?

No. The FBAR is FinCEN Form 114 and is filed separately from the federal income-tax return. Form 8938 is an IRS form attached to an applicable income-tax return. They use different definitions, thresholds, and filing rules, and a taxpayer may need one, both, or neither based on the facts.

Can a foreign account matter even when it earned no income?

Yes. FBAR and Form 8938 analyses are not based only on taxable income. Ownership, financial interest, signature authority, account or asset type, maximum value, residence, filing status, and other facts can matter. Income connected with the account must be reviewed separately for the U.S. return.

Is FBAR filed with the federal income-tax return?

No. The FBAR is filed electronically with FinCEN rather than attached to the federal income-tax return. Form 8938, when required, is filed with the applicable income-tax return. The separate filing method is one reason the reporting history for both forms should be reviewed.

What if a prior FBAR or Form 8938 may have been missed?

Do not assume that the current-year filing resolves a prior year or select a late-filing procedure without reviewing the facts. Prior-year forms, amended returns, penalty exposure, reasonable-cause positions, notices, and delinquency procedures require separate review and are not included unless expressly accepted.

Does this service include foreign businesses, trusts, pensions, or investment funds?

Not automatically. Those interests can involve additional U.S. tax returns and international information forms beyond FBAR or Form 8938. Each ownership interest, account, asset, entity, trust, form, and tax year must be reviewed for fit and specifically included before work begins.

How do I upload documents?

After engagement setup, use the secure client portal and the upload instructions provided by Tavella CPA Group. Do not send Social Security numbers, tax returns, bank information, or other sensitive documents through the public contact form or ordinary email.

Is this service cloud-based?

Yes. Organizers, secure document uploads, messages, electronic signatures, invoices, and final documents can be handled online through the appropriate secure workflow.

How long will preparation take?

Timing depends on the service, complexity, completeness of the information provided, filing deadline, and current availability. Expected timing is discussed when the scope is confirmed; submitting a consultation request does not reserve a filing deadline.

Is audit or notice representation included?

Only when representation is expressly included in the written engagement. Audit, examination, and notice-response work are otherwise reviewed and scoped separately.

PLAIN-ENGLISH TAX GUIDES

Use these source-backed guides to prepare for a conversation about this service. The guides provide general information, not advice for a specific situation.

Browse all tax guides

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Discuss Foreign-Account Reporting