What Happens When You Don't File an FBAR?

FBARs are due October 15th! For Americans living abroad with foreign bank accounts, listen up!
If, at any one point throughout the year, there is $10,000 or more in any combination of accounts, you must file an FBAR to FinCEN. This can be easily completed when filing with MET, or if you are under the tax return filing thresholds, you may file an FBAR with MyExpatFBAR through MyExpatTaxes.
Penalities can be hefty, so keep an eye on your account throughout the year.
Do you have questions about the FBAR? Let us know.
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