Serving Arlington & Williamsburg, VAArlington: (703) 867-2920|Williamsburg: (757) 814-0535
🌐 FBAR Filing Preparation & International Tax · Arlington & Williamsburg, VA

FBAR Filing Preparation That
Keeps You
Compliant - Before the Penalties
Find You.

The U.S. government taxes worldwide income and imposes reporting obligations on foreign accounts, assets, and interests that most people underestimate - until they receive a notice.

The penalty for willful failure to file a single FBAR can reach $100,000 or 50% of the account balance - per violation, per year. These are not theoretical numbers. They are statutory maximums the IRS enforces.

The Penalty Stakes - At a Glance
⚠ Non-Willful Failure
$10,000
Per account, per year - even if you simply didn’t know you had to file
✓ Willful Failure Maximum
$100,000+
Or 50% of the account balance - whichever is greater - per violation, per year
International Tax Services We Handle
🏛️FBAR (FinCEN 114)
Foreign bank account reporting - filed correctly and on time
📋FATCA / Form 8938
Foreign asset disclosure - thresholds, treaty positions & penalties
🌐Non-Resident Returns
1040-NR, dual-status returns & treaty-based elections
📄Voluntary Disclosure
Coming into compliance - before enforcement comes to you
💱Foreign Income
FEIE, foreign tax credits & worldwide income reporting
🛡️Treaty Positions
Applying the right treaty to eliminate or reduce double tax

At Griffin & Johnson, we handle the full range of international tax compliance - FBAR Filing Preparation, FATCA reporting, non-resident alien returns, treaty-based positions, and voluntary disclosure for clients who need to come into compliance. We handle these correctly, with full awareness of what non-compliance costs - and what proper compliance prevents.

Start Your Intake →📞 Arlington: (703) 867-2920📞 Williamsburg: (757) 814-0535
21+
Years of Tax Expertise
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Cost for Initial Consultation
2
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🌐FBAR & FATCA Specialists
Where International Returns Go Wrong

Most Non-Compliance
Isn't Intentional. The
IRS Doesn't Distinguish.

The most common reason people fail to file FBARs, FATCA forms, or non-resident returns is not willful evasion - it's a genuine lack of awareness that the obligation existed. That distinction matters to you. It matters less to the IRS than most people assume. Non-willful penalties are still substantial, and the IRS has shown increasing willingness to characterize non-compliance as willful when circumstances suggest the filer should have known. Here's what creates the most exposure:

🏦
The foreign account exceeded $10,000 briefly - and was never reported

The FBAR threshold is $10,000 in aggregate across all foreign accounts at any point during the year. Not at year-end. Not on average. At any point. A temporary transfer, a large deposit, or a combination of smaller accounts that crossed the threshold for even one day triggers the requirement.

📋
FBAR and FATCA were treated as the same filing - they're not

FBAR (FinCEN Form 114) and FATCA (Form 8938) cover overlapping but distinct sets of foreign financial assets with different thresholds, different filing agencies, and different penalty structures. Filing one does not satisfy the other. Both may apply to the same person simultaneously.

🎓
The F-1 student assumed no U.S. tax return was required

Foreign nationals on F, J, M, and Q visas have specific U.S. tax filing obligations that depend on residency status, income sources, and the length of their U.S. presence. "I'm a foreign student" is not a filing exemption. The wrong return - or no return - creates cascading immigration and tax problems.

🏠
Foreign rental income wasn't reported on the U.S. return

U.S. citizens and residents are taxed on worldwide income - including rental income from properties in other countries. Many filers report domestic income correctly and omit foreign income entirely, not realizing the obligation extends beyond U.S. borders.

📅
The dual-status year was filed as a standard resident return

In the year you arrive in or depart from the United States, you may be a dual-status alien - resident for part of the year and non-resident for the rest. The filing requirements and tax treatment differ for each period, and treating the whole year as one status produces an incorrect return in both directions.

🔄
Treaty benefits were available - and never claimed

The U.S. has income tax treaties with over 60 countries that can reduce or eliminate withholding on certain income types and provide other filing protections. Treaty-based positions require specific disclosure on Form 8833. Without that disclosure, the benefits don't apply - and withholding that was unnecessary stays with the IRS.

💡

The exposure is real. Voluntary compliance is always the better option. Non-compliance with international reporting requirements carries some of the largest statutory penalty exposures in the tax code - and the IRS has significantly increased its enforcement activity in this area over the past decade. Coming into compliance voluntarily - before the IRS initiates contact - is consistently the path with the lowest penalty exposure and the most favorable outcome.

FBAR vs. FATCA - Know the Difference

Two Separate Obligations.
Both Can Apply to You
at the Same Time.

FBAR and FATCA are the two most commonly confused international reporting requirements. They are separate obligations, filed with different agencies, with different thresholds, different asset coverage, and different penalty structures. Filing one does not satisfy the other. Here is the comparison that clarifies the distinction.

 FBAR · FINCEN 114FATCA · FORM 8938
Filed WithFinCEN (Financial Crimes Enforcement Network) - separately from your tax returnIRS - attached to your Form 1040
Threshold (U.S. Resident)$10,000 aggregate in all foreign accounts at any point during the year$50,000 on last day of year, or $75,000 at any point ($100K/$150K for married filing jointly)
What It CoversForeign financial accounts - bank accounts, brokerage accounts, certain insurance policiesSpecified foreign financial assets - broader than FBAR; includes foreign entity interests, contracts with foreign persons
DeadlineApril 15 - with automatic extension to October 15Same as your tax return - April 15, or October 15 with extension
Non-Willful PenaltyUp to $10,000 per violation. Courts have sustained per-account interpretations that compound significantly.$10,000 for initial failure; up to $50,000 for continued failure after IRS notice
Willful PenaltyGreater of $100,000 or 50% of account balance, per violation. Criminal prosecution also available.Up to $50,000 for continuing non-compliance. Criminal referral possible in coordination with IRS.
⚠️

Both FBAR and FATCA may apply to the same foreign account simultaneously. An account that triggers FBAR reporting at $10,000 may also trigger FATCA reporting if your total specified foreign assets exceed the Form 8938 threshold. You must file both - and the failure to file either carries its own independent penalty. We analyze your full foreign account picture and determine which filings are required, before any deadline passes.

Who We Serve

Every International Tax
Situation Covered -
Precisely and Completely

FBAR & Non-Resident Tax obligations arise from many different circumstances - foreign accounts, visa status, worldwide income, and year-of-arrival situations all create specific, distinct requirements. We handle the full range - from a single foreign savings account to multi-country income streams and complex expatriate situations. By appointment at our Arlington and Williamsburg offices, or virtually for clients anywhere.

✓
Non-resident aliens with U.S.-source income

Wages, rental income, dividends, and business income earned in the U.S. by foreign nationals create filing obligations on Form 1040-NR - with specific treatment for ECI and FDAP income types.

✓
Foreign nationals on F, J, M, or Q visas

Student and exchange visitor visas carry specific residency rules that affect tax filing status, treaty eligibility, and FICA obligations. The correct treatment depends on visa type, entry date, and days of U.S. presence.

✓
U.S. persons with foreign bank or financial accounts

Any U.S. person - citizen, resident, or certain entity - with foreign financial accounts exceeding $10,000 in aggregate at any point during the year must file an FBAR. FBAR Filing Preparation is required - no exceptions, no de minimis rule below the threshold.

✓
U.S. persons with specified foreign financial assets

Foreign stock, foreign entity interests, foreign contracts, and other specified assets above FATCA thresholds require Form 8938 disclosure - in addition to any FBAR obligation that may apply.

✓
Dual-status aliens in year of arrival or departure

The year you arrive in or leave the United States creates a split-year tax situation with different rules for each period. Dual-status returns require specific elections, allocation of income, and sometimes multiple filing forms in the same year.

✓
Clients with foreign rental properties, business interests, or prior non-compliance

U.S. citizens and residents must report worldwide income - including foreign rental properties, foreign business income, and interests in foreign corporations or partnerships. Unfiled FBARs, unreported foreign accounts, and missed international returns all have established IRS procedures for FBAR Filing Preparation and voluntary compliance - with significantly lower exposure than waiting for IRS contact.

Full Scope of International Tax Services

Every International
Obligation, Handled
Completely

International tax compliance is not one form - it is a set of overlapping obligations with different agencies, different deadlines, and different consequences for non-compliance. Our FBAR Filing Preparation covers the complete picture so nothing falls through the gaps between filings.

📄
Non-Resident Alien Returns (1040-NR)

Form 1040-NR for foreign nationals with U.S.-source income - wages, rental income, dividends, business income. We apply the correct income classification, withholding credits, and any applicable treaty positions.

  • -ECI (Effectively Connected Income) reporting
  • -FDAP income and withholding credits
  • -Treaty-based positions and exemptions
  • -Dual-status returns for year of arrival/departure
🏦
FBAR Filing (FinCEN 114)

Annual FBAR Filing Preparation for U.S. persons with foreign financial accounts exceeding $10,000 in aggregate. We identify every reportable account, calculate aggregate balances correctly, and file on time - every year.

  • -Foreign bank account identification
  • -Aggregate balance calculation
  • -Joint account reporting
  • -Late filing and penalty abatement
📋
FATCA Reporting (Form 8938)

Form 8938 for U.S. taxpayers with specified foreign financial assets above applicable thresholds. We identify every reportable asset, confirm threshold status, and coordinate the FATCA filing with your FBAR obligations.

  • -Specified foreign financial asset identification
  • -Threshold analysis (resident vs. non-resident)
  • -Coordination with FBAR reporting
  • -Penalty exposure and voluntary disclosure
🤝
Treaty-Based Returns

Tax treaties between the U.S. and over 60 countries can reduce or eliminate withholding on certain income types and provide other filing protections. We analyze treaty eligibility, apply the correct benefits, and file the required Form 8833 disclosure.

  • -Treaty benefit analysis by country
  • -Form 8833 treaty-based position disclosure
  • -Reduced withholding rate claims
  • -Pension and retirement income treaty treatment
🌍
Foreign Income Exclusion & Credits

U.S. citizens and residents living or working abroad may exclude foreign earned income or claim a credit for foreign taxes paid - preventing double taxation and reducing overall U.S. liability. We determine which approach produces the better outcome.

  • -Foreign Earned Income Exclusion (Form 2555)
  • -Foreign Tax Credit (Form 1116)
  • -Housing exclusion and deduction
  • -Bona fide residence and physical presence tests
🔓
Voluntary Disclosure Programs

Clients with prior non-compliance - unfiled FBARs, unreported foreign accounts, or missed international returns - have established IRS procedures available for FBAR Filing Preparation and voluntary compliance on the most favorable terms.

  • -Streamlined Domestic Offshore Procedures
  • -Streamlined Foreign Offshore Procedures
  • -Delinquent FBAR submission procedures
  • -Prior year amended return preparation
Prior Non-Compliance - Your Options

Didn't File FBARs or Report
Foreign Accounts? You Have
Options - Until You Don't.

The IRS operates voluntary disclosure programs specifically for taxpayers who failed to report foreign accounts or income and want to come into compliance before the IRS makes contact. These programs reduce penalty exposure significantly compared to responding to an IRS examination or notice - but they are only available to taxpayers the IRS has not already identified. Once an examination begins or a notice arrives, the most favorable programs close.

Non-Willful Non-Compliance · U.S. Residents
Streamlined Domestic Offshore Procedures
Who Qualifies

U.S. residents whose failure to report foreign accounts was non-willful - a genuine misunderstanding or lack of awareness of the requirement. Requires filing amended returns for three years and delinquent FBARs for six years. Penalty is 5% of the highest aggregate balance of unreported accounts.

Non-Willful Non-Compliance · Foreign Residents
Streamlined Foreign Offshore Procedures
Who Qualifies

U.S. citizens and permanent residents who have been living outside the U.S. for at least one of the past three years and whose non-compliance was non-willful. Same filing requirements as SDOP - but no miscellaneous offshore penalty.

Missed FBARs Only · No Unreported Income
Delinquent FBAR Submission Procedures
Who Qualifies

Taxpayers who did report all their foreign income correctly on their U.S. returns but simply failed to file the FBAR. Available when there are no unreported income issues - and when the IRS has not already contacted the filer about the delinquency. No penalty if requirements are met.

These programs are not available if you are already under IRS examination or have been contacted about the specific accounts involved. Acting before IRS contact is the single most important variable in determining which options remain open and what the final penalty exposure will be. If you have unreported foreign accounts or unfiled FBARs from prior years, start your intake today - the available options narrow over time, not the other way around.

Questions We Hear Every Day

Straight Answers to the
Questions You're Already Asking

No jargon. No runaround. What you actually need to know before you decide.

International Tax Compliance Handled

Start Your Intake.
We Handle the Rest.

Submit your intake form and we'll reach out within one business day. No surprise fees. No bulk processing. Every international obligation identified, every filing handled correctly - before the penalties arrive.

✓ FBAR & FATCA specialists·✓ Voluntary disclosure guidance·✓ Arlington & Williamsburg·✓ Virtual clients anywhere