The delinquent FBAR submission procedures allowed taxpayers who reported all foreign income but missed the FBAR to file late reports with an explanation and generally no penalty. Their status changed in 2026; confirm current availability before relying on them.
The filing is electronic through FinCEN with a statement of reasonable cause. Eligibility required that all income was reported and the taxpayer was not under examination.
Where the procedures do not apply, or foreign income was also omitted, the streamlined procedures are the route. Streamlined procedures. [VERIFY current IRS procedure with Jennifer Keegan before publishing.]
FBAR, FATCA, streamlined procedures, voluntary disclosure, and foreign trust and gift reporting.
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Definitions are general information, not legal advice, and may not reflect the most recent changes in law.
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