The $10,000 Mistake

Have foreign accounts? You’re not alone. But forget to report them—and the penalties are brutal.

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The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) requires Americans and Green Card holders to disclose foreign accounts over $10,000. The FBAR isn’t a tax form. It’s a bank secrecy disclosure—part of U.S. anti-money laundering law.

It was designed to catch tax cheats, money launderers, narco-traffickers, and terrorist financiers. But in practice? It often ensnares global families, expats, and entrepreneurs just trying to bank abroad.

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If your foreign accounts total over $10,000 at any point in the year, you’re required to report them—not to the IRS, but to FinCEN, the Treasury’s financial crimes and intelligence agency.. Miss it—even by accident—and you risk crushing penalties. Willful violations? Think six figures. In rare cases, felony charges.

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We keep your accounts compliant—and your name out of trouble by:

• Identifying past filing issues before the IRS does

• Preparing and filing your FBARs with precision

• Applying for amnesty when needed

• Representing you in audits and penalty disputes

• Building forward-looking structures to minimize risk

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Global banking should be a freedom—not a liability. We make sure it stays that way.