Attention FOREX traders!

Any entity that has $10,000 or more in any foreign account (including brokerage accounts) at any time must submit a Foreign Bank and Financial Accounts or FBAR report.

Penalties can be as much as $10,000 and 50% of the account’s maximum value, for each person who doesn’t file their FBAR report. And since foreign banks are supposed to report to the IRS, inconsistencies in your returns could result in an audit!

Let us take care of preparing and submitting your FBAR report each year!