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510-825-7563www.sanjivcpa.com
• Who Must File FBAR ?Any United States person who has a financial interest in foreign country and
Aggregate value of these accounts exceeds $10,000 any time during calender year.
• This also include businessesIndividual Companies or Corp. With accounts in foreign countries also need to file FBAR.
Financial Bank Account ReportingFBAR
510-825-7563www.sanjivcpa.com
No, You do not file FBAR with Tax return?Separate Filing, Different Address and Different Deadline
Filing Deadline
JUNE 30THNo Extension Allowed
510-825-7563www.sanjivcpa.com
• Non-Willful ViolationUp to $10,000 for each negligent violation
• Willful ViolationUp to $100,000 or 50% of the amount in the account at the time of violation.
• Criminal PanaltiesUp to $250,000 or 5 Years or both.
IRS is very serious about this !Penalties for not filing FBAR ?