Forgot to File an FBAR? What Happens Next and How to Fix It in 2026

Some have even filed their U.S. tax returns every year without realizing the FBAR is a separate reporting requirement.

A missed FBAR does not automatically mean you will face penalties. However, filing several years of late FBARs without first reviewing your overall tax situation may not always be the right approach.

Here's what you need to know if you forgot to file an FBAR.

What is an FBAR?

FBAR stands for Report of Foreign Bank and Financial Accounts, formally known as FinCEN Form 114.

Generally, a U.S. person must file an FBAR when they have a financial interest in or signature authority over foreign financial accounts and the combined maximum value of those accounts exceeded $10,000 at any point during the calendar year.

Foreign accounts can include checking and savings accounts, brokerage accounts, and certain other foreign financial accounts.

When is the FBAR due?

The FBAR is generally due April 15 following the calendar year being reported, with an automatic extension until October 15.

If the applicable deadline has passed and you were required to file, your FBAR is delinquent.

I forgot to file an FBAR. What should I do?

First, don't ignore it.

The appropriate way to correct a late FBAR depends on what else happened with your U.S. tax filings. Someone who correctly reported all foreign income on their tax returns but simply missed an FBAR may have a very different situation from someone who also:

• Has several years of unfiled U.S. tax returns
• Failed to report foreign income
• Owns a foreign company
• Has foreign investments
• Failed to file Form 8938 or Form 5471
• Has other international reporting issues

Before correcting several years of FBARs, it is important to understand the complete picture.

Can I just file a late FBAR?

Sometimes.

If your U.S. tax returns were otherwise correct and all income associated with your foreign accounts was properly reported, correcting a delinquent FBAR may be relatively straightforward.

If foreign income, tax returns, or other international forms were also missed, a different compliance procedure may need to be considered.

This is why taxpayers with multiple years of missed filings should be careful about simply submitting old FBARs without first determining which compliance method applies.

What are the penalties for not filing an FBAR?

FBAR violations can carry significant civil penalties. One important distinction is whether the failure was willful or non-willful.

The IRS describes non-willful conduct for purposes of its Streamlined Filing Compliance Procedures as conduct resulting from negligence, inadvertence, mistake, or a good-faith misunderstanding of the law.

For example, an American who moved overseas years ago, opened ordinary local bank accounts and genuinely did not know about FBAR reporting may have a very different situation from someone who deliberately concealed offshore assets.

The taxpayer's individual facts and circumstances matter.

What if I haven't filed U.S. taxes either?

For Americans abroad, a missed FBAR is often discovered alongside several years of missing U.S. tax returns — a situation we cover in more depth in I Haven't Filed U.S. Taxes in 5 Years and I Live Abroad.

Certain taxpayers whose failures were non-willful may qualify for the IRS Streamlined Filing Compliance Procedures. For qualifying U.S. taxpayers living abroad, the Streamlined Foreign Offshore Procedures generally involve:

• Three years of required delinquent or amended U.S. tax returns
• Six years of required delinquent FBARs
• Applicable international information returns
• Payment of applicable tax and interest
• A certification explaining the taxpayer's non-willful conduct

For qualifying taxpayers, the Streamlined Foreign Offshore Procedures can provide significant penalty relief.

Eligibility should be carefully evaluated before making a submission.

What if I live in the United States?

U.S. residents may potentially qualify for the Streamlined Domestic Offshore Procedures, but the rules are different. Your residence therefore matters when determining which offshore compliance procedure may be available.

For a fuller walkthrough of both programs, see the IRS Streamlined Filing Procedures explained.

What if I have other foreign assets?

A missed FBAR may only be one part of an international tax compliance problem. Depending on your circumstances, you may also have reporting requirements involving:

This is why international tax compliance should generally be reviewed as a whole rather than treating a missed FBAR in isolation.

What if I haven't filed an FBAR for 5 or 10 years?

The number of missed years does not automatically determine how you should correct the problem.

For example, qualifying Streamlined Foreign Offshore submissions generally include the most recent six years of delinquent FBARs for which the applicable deadline has passed. But that does not mean everyone with six or more missed FBARs should automatically use Streamlined.

Your filing history, residency, foreign income, assets, prior IRS contact and reason for the noncompliance all matter.

Frequently asked questions

Get help with late FBARs

Discovering that you forgot to file an FBAR does not mean you should panic — but it should be addressed. The first step is determining what was missed, why it was missed and which compliance procedure applies to your situation.

Valoria Consulting assists U.S. taxpayers with international tax and offshore compliance matters, including:

If you're a U.S. citizen, green card holder, or other U.S. taxpayer who recently discovered unfiled foreign-account reporting requirements, schedule an International Tax & FBAR Compliance Consultation with Valoria Consulting.