Never filed a US tax return? US citizens are required to file a return each year regardless of where they live. If you are delinquent in your filings, we can advise you of the best way to become compliant and avoid penalties.
Streamlined Filing Procedures
If you are delinquent in your filing of your tax returns and/or FinCEN 114(FBAR), and if you qualify, you may be able to become compliant using the IRS's streamlined filing compliance procedures. Under these procedures you can avoid late filing penalties and the penalties for not filing certain forms. Contact us to see if you qualify.
FinCEN 114 (Foreign Bank Account Reporting)
U.S. citizens and residents are required to report their financial interest in foreign bank accounts if at any time in the year, the total balance in their accounts reach $10,000. This includes RRSP (Registered Retirement Savings Plans), RESP (Registered Education Savings Plans) and any accounts that you have signing authority.
There are severe penalties for non-filing and delinquent filing of Form FinCen 114(FBAR). We can help you become compliant and avoid potential penalties. Contact Us.