FBAR and FATCA Compliance

        FBAR is a FinCEN form (Financial Crimes Enforcement Network)

        Filing due date is the same as the return filing due date.

        FBAR includes foreign financial accounts – banks, investments, stock, life insurance and pension plans.

        FBAR threshold is an annual aggregate total of all accounts on a single day of the year of $10,000.

        Non-willful penalties are limited to a per form per year (based on recent Supreme Court Case decision)

        FATCA (Foreign Account Tax Compliance Act) filing with for IRS on Form 8938 has similar requirements except threshold of $50,000 on the last day of the tax year or more than $75,000 at any time during the tax year.

Cayman Islands Office

One Capital Place Building, 3rd Floor
136 Shedden Rd, George Town
P.O. Box 30349
Grand Cayman, KY1-1201
Cayman Islands

Los Angeles Office

5455 Wilshire Blvd., Suite 914
Los Angeles, CA 90036

Miami Office

40 SW 13th Street, #201
Miami, FL 33130