I've read FBAR penalties can top $10,000 a year. Will I have to pay that?
Not if you qualify for the Streamlined Foreign Offshore Procedures. For Americans abroad whose mistakes weren't willful, they waive the FBAR and international information return penalties. You pay any tax actually owed, plus interest, and that's often little or nothing.
My bank is asking for my U.S. tax ID and I'm not compliant. What do I do?
Don't ignore it, and don't panic. Banks ask because FATCA requires them to report U.S. account holders. We get you caught up first, so you can answer your bank with confidence. If you don't have a Social Security number yet, we help with that too.
Is there really an IRS tax amnesty for expats?
Not by that name. "Amnesty" is how most people describe the IRS Streamlined Filing Compliance Procedures. For Americans living abroad whose mistakes weren't willful, the Streamlined Foreign Offshore Procedures let you catch up by filing three years of returns and six years of FBARs, with no penalties. You still pay any tax owed, plus interest.
Am I going to get in trouble?
Very unlikely, if you come forward on your own and your mistake was honest. The IRS created the Streamlined procedures for exactly this: people who didn't know the rules. Problems mostly start when the IRS finds you first, which is why acting before any IRS contact matters.
I'm years behind, or I've never filed. Is it too late?
No. Plenty of our clients have never filed, some for decades. Under the Streamlined Foreign Offshore Procedures you don't file every missed year, only the most recent three tax returns and six FBARs.
Will I owe a lot of tax?
Often not. The foreign earned income exclusion and foreign tax credits mean most expats in countries like Canada, the UK and Australia owe little or no U.S. tax. You pay what's actually due, plus interest. We'll estimate it before you commit to anything.
What does "non-willful" mean?
It means you didn't intend to break the rules: you didn't know, misunderstood, made a mistake or got bad advice. You'll sign a statement explaining why, under penalty of perjury, so it has to be true. If your situation was deliberate, there's a different path, and we'll tell you honestly. Willful vs. non-willful, explained.
Can the IRS find out about my foreign accounts?
Yes. Under FATCA, banks in over 100 countries report accounts held by U.S. persons to the IRS. That's why so many people hear from their bank first. It's also why it's best to come forward before the IRS contacts you.
I was born in the U.S. but never lived there. Does this apply to me?
Usually, yes. If you're a U.S. citizen by birth, you have the same filing rules as any American, even if you left as a baby. We help "accidental Americans" get a Social Security number, catch up, and decide whether to keep or renounce citizenship.
How much does it cost?
One low flat fee: $1,399 for the full Streamlined package with FBARs, or $1,099 without FBARs. A few add-ons apply only if your situation needs them, priced per year. Nothing hidden, no hourly billing, and the price is agreed before we start. See all prices.
How long does it take?
Most packages are ready 2 to 3 weeks after we have all your documents, so it mostly depends on how quickly they come together. We keep you updated along the way. Once filed, the IRS processes the package on its own timeline.
Does filing Streamlined trigger an audit?
Not automatically. Streamlined returns go through the IRS's normal selection process like any other return. If one is examined, the IRS has said the Streamlined penalty relief still applies unless it finds fraud or a willful FBAR violation.