U.S. Tax & FBAR/FATCA for Expatriates


Unique to a typical U.S. tax filing:

Many foreign expatriates, all U.S. citizens & Green Card holders are required to report all worldwide income. Foreign and U.S. expatriates are entitled to, but not limited to following unique

tax breaks under conditions:

In addition to your annual US tax return filling responsibility, if you are a US person have a foreign bank or are a signatory on a foreign bank account, you are required to file a report

called FBAR or FinCEN Form 114 (formally Known as TD F 90-22.1).  This is a separate filling from you tax return, with an independent filling date of June 30 with no extensions granted.

Generally, you have to file an FBAR if you meet the following requirements:

You are a United States “person” (which can include residents in the United States on a visa);

FBAR: Also for U.S nationals & Green Card holders, federal tax regulation stipulates "Report of Bank and Financial Accounts" owned outside of U.S. and its territories. The broad scope

of financial assets can range from oversea bank deposit accounts, overseas stock, mutual fund and bond holdings, to financial interests in private overseas corporations and partnerships. 

A stiff penalty could be imposed for noncompliance.  Further federal regulations mandate its dual declaration requirement: On IRS form 8938 and separately a direct report at the Treasury department website.   

Questionnaires are available to our expat clients upon request.  It will provide us with most information in need to complete tax filing.  In most cases, services offered to expats can be

performed remotely. Your infomation will be kept confidential.   

If there are any questions, please email or contact us and we will respond promptly.

We strongly encourage overseas expats verifying your accountants prior to sending any confidential personal tax information

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