I'm in a difficult situation and trying to figure out my next steps.
FBAR filing for offshore accounts. I've been dealing with this for about 6 weeks now and the situation isn't improving.
Has anyone been through something similar? What worked for you?
Licensed attorney — a few thoughts. Here's my take on the legal issues.
Based on what you've described, you likely have a viable claim under the relevant statute. The standard is whether a reasonable person would find the conduct actionable.
Before taking legal action, consider sending a formal demand letter. In many cases, this alone resolves the issue.
This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.
Been there. Here's what I learned.
What trips people up most is hiring an attorney to send the initial letter. I'd recommend being patient with the process instead.
Not gonna lie, I put off calling an attorney for weeks. Wish I hadn't waited.
I went through almost the exact same thing.
I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.
International tax attorney here. FBAR compliance is an area where the penalties for non-filing are disproportionately severe relative to the simplicity of the filing requirement, so I want to provide clear guidance for anyone reading this thread.
You must file FinCEN Form 114 (FBAR) if you had a financial interest in or signature authority over at least one foreign financial account AND the aggregate value of all foreign accounts exceeded 10,000 dollars at any point during the calendar year. This includes bank accounts, brokerage accounts, and mutual funds held at foreign financial institutions. Importantly, cryptocurrency held on foreign exchanges is increasingly being treated as a reportable account, though the Treasury has not issued final guidance on this specific point.
If you have failed to file FBARs in prior years, do not panic, but do act promptly. The IRS Streamlined Filing Compliance Procedures allow taxpayers who were non-willful to file delinquent FBARs and amended tax returns with a reduced penalty structure. For taxpayers living in the US, the penalty is 5 percent of the highest aggregate balance. For those living abroad who qualify, the penalty can be zero. This program has been available for several years and remains open as of 2026, though there is no guarantee it will continue indefinitely.