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Failure to File a Report for an Offshore Bank Account

By Bill Griffith Jr CFP on Monday, June 27th, 2011 | No Comments

The due date for filing the FBAR for 2010 is June 30, 2011. Since the penalties for failing to comply with the FBAR filing requirements are pretty significant, it’s important to know what the reporting requirements are. Failure to File If you fail to comply with the filing requirements, the penalties are significant. Both civil [...]

Do You Have an Offshore Bank Account?

By Bill Griffith Jr CFP on Sunday, June 26th, 2011 | No Comments

If you have a Swiss bank account or other financial account in a foreign bank, you may be required to file a Report of Foreign Bank and Financial Accounts (FBAR) on Form TD F 90-22.1. Foreign Financial Accounts It isn’t unusual to have an offshore bank account. Many people do. But not everyone knows what [...]