Amended FBARS

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As established by the Bank Secrecy Act, every year you must report your required foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds, to the Treasury Department by filing a Report of Foreign Bank and Financial Accounts (FBAR) on FinCEN Form 114, and keep records of those accounts. However, if a person finds they gave inaccurate or incomplete information on their FBAR submission, they are required to amend such FBAR.

FBARS mistakes are only allowed to be corrected if the assets in the account(s) came from a source that is legal, and if the Internal Revenue Service is not currently or yet aware of the violation.

At Sabalier Law, you may schedule a Legal Consultation to obtain the legal guidance and help you need to seek to ensure that you are allowed to successfully amend your FBAR, and most importantly to make sure that once you amend it no further mistakes are made in the process, so that you can take your mind off this issue and keep enjoying the rest of your adventures while living abroad.

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