Queen Anne's County; Queen Anne's County Area Agency on Aging; Queen Anne's County Free Library; Town Of Centreville
The FBAR must be filed with the Treasury Department (it is not filed with your your federal income tax return) whenever you meet the FBAR filing requirements, which in a nutshell is whenever a U.S. person has a financial interest in, or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, ...
FBAR Penalty â Common Questions & Answers about FBAR Penalties. FBAR Penalties for inaccuracy, late filing, and non-filing, can be severe. When it comes to FBARs, The IRS has extensive authority to issue penalties ranging upwards of 50% value of your account, per year. This is in addition to Form 8938 Penalties â which are similar, but not the same as FBAR Penalties.