Where the FBAR is filed

The FBAR is filed only electronically through the U.S. Treasury's BSA E-Filing System. You cannot mail a paper FBAR to the IRS in ordinary circumstances. There are two common paths:

  • Online form — complete FinCEN Form 114 directly in your browser.
  • PDF form — download, complete, and upload the FinCEN Form 114 PDF.

Filing is free. Submitting the FBAR through the BSA E-Filing System carries no government fee. Be cautious of any third party implying the government charges to file.

What you will need before you start

Gathering this information first makes the process much smoother:

  • Your identifying details (name, address, and taxpayer identification number, such as your SSN or ITIN).
  • The name and address of each foreign financial institution.
  • The account number (or other designation) for each account.
  • The type of each account (bank, securities, other).
  • The maximum value of each account during the calendar year.
  • For accounts you don't own: information about the owner and your relationship to the account.

Step-by-step overview

  1. Confirm you must file

    Review the Who Must File criteria and the $10,000 aggregate threshold.

  2. Collect your account information

    Assemble the details listed above for every foreign account you hold or control.

  3. Determine each account's maximum value

    Identify the highest balance each account reached during the year, then convert to U.S. dollars using an appropriate year-end exchange rate as directed by the instructions.

  4. Access the BSA E-Filing System

    Go to the official FinCEN BSA E-Filing website and choose the individual FBAR (FinCEN Form 114) option.

  5. Complete FinCEN Form 114

    Enter your personal information and the details for each account. Double-check account numbers and values for accuracy.

  6. Review and submit

    Verify every entry, sign electronically, and submit. The system confirms receipt.

  7. Save your confirmation

    Keep the BSA-assigned confirmation/acknowledgement and a copy of the filed form with your records.

Reporting account values & currency conversion

Report the maximum value each account reached during the year, converted to U.S. dollars. The FBAR instructions specify which exchange rate to use (generally the Treasury's year-end rate). If you cannot determine an exact maximum, the instructions allow a reasonable estimate based on available statements — document how you arrived at your figures.

Recordkeeping after you file

Keep records that support each FBAR, generally for five years from the due date. Retain, for each account:

  • The name on the account and the account number.
  • The name and address of the financial institution.
  • The type of account and its maximum value during the year.

If you missed a past FBAR

If you failed to file for a prior year, don't panic — but don't ignore it either. The government has offered procedures for delinquent or non-willful filers in the past, and the right approach depends heavily on your circumstances. Because outcomes and penalties can vary widely, this is a situation where speaking with a qualified tax attorney or CPA is often worthwhile.

Please note: This walkthrough is a general educational overview and may not reflect the latest FinCEN procedures. Always follow the current official instructions on the BSA E-Filing System, and consider professional help for complex situations. See our disclaimer.

Next: Deadlines & penalties →