Who this is for
- US persons with UK bank accounts
- Signatories on foreign employer or trust accounts
- Clients with joint UK accounts
Foreign Asset Reporting
FBAR — Foreign Bank Account Reporting (FinCEN 114)
Required if your foreign financial accounts exceeded $10,000 in aggregate at any point during the calendar year.
Overview
Why this filing matters
Required if your foreign financial accounts exceeded $10,000 in aggregate at any point during the calendar year.
Note — >$10k in foreign accounts — aggregate across the year.
What you get
- FBAR preparation & e-filing to FinCEN
- Account aggregation & maximum balance analysis
- Guidance on signature authority reporting
Our approach
Built for the cross-border edge cases.
Most US-UK filings fail the same way: a treaty position that wasn’t disclosed, a foreign account that slipped under FBAR thresholds, a PFIC election filed in the wrong year, a carry-forward not tracked from one preparer to the next. The cost of any single one of those is rarely catastrophic on its own — it’s the compounding over multiple filing seasons that quietly turns a clean tax life into a six-figure remediation project.
We start every engagement by looking at the edge cases first — the elections, the disclosures, the carry-forwards, the side-effects on next year’s return — and only then turn to the routine line items. The result is a filing that reads cleanly to anyone who picks it up next: another preparer, the IRS, or a successor in your own business.
- Position memo on every meaningful election, with the reasoning written down for the next return
- Carry-forwards (FTC, capital losses, PFIC basis) tracked year-on-year so nothing expires unused
- Plain-English commentary on every position taken — the kind that makes a future audit a non-event
Our process
How we handle your fbar
Four steps from first call to filed return. Fixed fee confirmed before any work begins.
- 01
Intake
30-minute scoping call. We confirm your situation, required filings, and send a tailored document list.
- 02
Review
We analyse your position, flag any cross-border risks, and confirm the scope and fee before any work starts.
- 03
Prepare
Draft returns and schedules are prepared with plain-English commentary on key positions for your review.
- 04
File
E-file with the IRS / FinCEN, send confirmations, and handle any follow-up notices or questions.
Pricing
Fixed fees — no surprises
FBAR is £150 + VAT when bundled with a tax return, or £250 + VAT standalone. Multi-year catch-up filings and Streamlined FBAR packages are priced per case.
FAQs
Common questions about FBAR
What counts as a foreign financial account?
Bank accounts, brokerage, certain pension arrangements, precious-metals accounts, insurance with cash value, cryptocurrency held on foreign exchanges, and accounts where you have signature authority — even if you're not the beneficial owner.
Do ISAs count toward the $10k threshold?
Cash ISAs yes. Stocks-and-shares ISAs generally yes — the underlying brokerage accounts are typically reportable. Help-to-Buy and Lifetime ISAs also count.
What happens if I miss the FBAR filing?
Non-wilful penalties range from $0 (with reasonable cause) up to about $16k per year per account. Wilful penalties can reach $165k+ or 50% of account value per year. Catch-up through Streamlined SFOP typically resolves without penalties.
Does FBAR replace Form 8938?
No — they're separate filings with different rules, thresholds, and account definitions. You often need both. FBAR goes to FinCEN electronically; 8938 attaches to your 1040.
When's the deadline?
15 April with an automatic extension to 15 October. Filed electronically to FinCEN (not the IRS). No separate extension request is needed.
Ready to get this filed?
Tell us your situation and we'll confirm scope, a fixed fee, and the documents we need — usually within one business day.