FBAR & Foreign Asset Reporting


U.S. reporting support for foreign bank accounts, financial accounts, and other foreign assets.


U.S. taxpayers with financial accounts or assets outside the United States may have reporting obligations separate from their annual income tax return.


Schmid CPA helps individuals identify applicable foreign account and asset reporting requirements and coordinate those filings with their U.S. tax return.

FBAR (FinCEN Form 114)

  • Preparation of FBAR filings for individuals with reportable foreign financial accounts.

Form 8938

  • Preparation of Form 8938 when applicable for specified foreign financial assets that meet the relevant reporting thresholds.

Foreign Bank & Financial Accounts

  • Review of checking, savings, brokerage, investment, and other foreign financial accounts for potential U.S. reporting requirements.

Foreign Investment Accounts

  • Review of foreign brokerage and investment accounts, including identification of situations that may require additional tax reporting.

Late & Prior-Year Reporting

  • Assistance with identifying previously missed foreign account or asset reporting and determining appropriate next steps based on the circumstances.

U.S. Tax Return Coordination

  • Coordination of foreign account and asset reporting with foreign income, investments, and other information reported on the U.S. income tax return.

An FBAR filing requirement can arise when the aggregate value of foreign financial accounts exceeds $10,000 at any time during the calendar year.


The threshold applies to the combined value of reportable foreign accounts—not $10,000 per account.


Foreign accounts may include bank accounts, brokerage accounts, and certain other financial accounts. Having signature authority over an account can also be relevant even when the funds do not belong to you.

Foreign financial reporting can involve more than one filing requirement.


The FBAR and Form 8938 are separate reporting regimes with different rules, thresholds, and filing procedures. Depending on the individual’s circumstances, one, both, or neither may be required.



Schmid CPA can help evaluate:


★ Foreign checking and savings accounts
★ Foreign brokerage and investment accounts
★ Accounts held in multiple countries
★ Jointly owned foreign accounts
★ Signature authority over foreign accounts
★ Foreign financial assets
★ FBAR filing requirements
★ Form 8938 reporting
★ Previously unreported accounts
★ Coordination with foreign income reporting

Foreign account reporting can become complicated when multiple accounts, currencies, investments, or prior-year issues are involved.


Schmid CPA helps individuals understand what needs to be reported and how the foreign reporting requirements connect to their overall U.S. tax situation.


Have bank accounts, investments, or other financial assets outside the United States?


Schedule a consultation to discuss your foreign accounts and U.S. reporting requirements.