Foreign account reporting
Foreign accounts over $10,000? File FBAR the right way.
FBAR (FinCEN Form 114) is required when the combined maximum balance of your foreign financial accounts exceeds $10,000 at any point during the year. AOTAX helps Indians in the USA report those accounts accurately — and catch up when prior years were missed.
FBAR has a hard deadline. Late or incomplete filings can create penalty exposure — even when no tax was owed on the foreign accounts.
What AOTAX FBAR & FATCA support covers
- ✓FBAR (FinCEN Form 114) filing support
- ✓Guidance on the $10,000 aggregate threshold
- ✓Help gathering the account details FinCEN expects
- ✓Support when prior FBARs were missed
- ✓Streamlined filing guidance when appropriate
- ✓FATCA awareness alongside your US return
FBAR has existed for decades, but enforcement has tightened as the IRS and FinCEN focus more on overseas accounts and investments held by US persons. If you have NRE/NRO accounts, foreign FDs, brokerage, or other qualifying accounts abroad, this filing often applies even when the accounts earn little interest.
FinCEN Form 114 is filed online. After you file, you should keep supporting details for the declared accounts for six years — including account numbers, names on the accounts, account types, the foreign institution name and address, and each account’s maximum value during the tax year.
Step 1
Who typically needs FBAR help
US citizens and residents with foreign bank, investment, or other reportable financial accounts that crossed the $10,000 aggregate threshold anytime in the year — including many Indian professionals with India accounts, deposits, or investments.
Step 2
Missed a prior year?
If you did not file because you did not know about FBAR, do not guess your way through catch-up. Our team helps with FBAR filing and options such as the Streamlined procedures when they fit your situation.
Step 3
FBAR and FATCA together
FBAR and FATCA reporting often come up in the same conversation. We help you understand what each requires so your foreign account reporting stays consistent across your filing package.
Unsure if you need to file?
Not sure if your India accounts trigger FBAR? Share a few details and we’ll tell you what usually applies — before you file (or miss) another year.
Ready to report your foreign accounts correctly?
Share a few details and our team will follow up with next steps for FBAR / FATCA support.