Glossary

Form 14654

Form 14654 is the certification of non-willful conduct for U.S. residents submitting under the Streamlined Domestic Offshore Procedures, and it also computes the 5 percent miscellaneous offshore penalty.

How it works

U.S. residents using the Streamlined Domestic Offshore Procedures sign Form 14654, which certifies non-willful conduct, lists each foreign account with its year-end balance for the six-year period, identifies the highest aggregate balance, and computes the 5 percent miscellaneous offshore penalty. The same narrative standards apply as on Form 14653.

Why it matters

An incomplete account schedule or a balance that does not tie to the FBARs is a common defect, and the penalty computation must include every unreported account, including ones since closed.

Related: Streamlined Domestic, Form 14653.

Guides that cover form 14654

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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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