Late FBAR filing

mehran · Post by **mehran** » Sun Aug 11, 2013 10:04 pm

Hi,

I moved to US in 2012 and after filing my taxes this year I forgot to file FBAR before June 30 deadline.
I am going to file it this week. How should I prepare the late filing explanation letter to avoid a penalty? How common is it to get penalized for late FBAR filing?

Thanks

Taxpoor · Post by **Taxpoor** » Sun Aug 11, 2013 10:27 pm

Hmmm...they are pretty adamant that the paperwork has to be on there desk by June 30th....that is why most individuals (in the past) sent it FedEx so they had a record of the mailing.

Not sure how you would proceed on this one, my suggestion would be to call Detroit directly and explain your situation as to why your filing was not included by the deadline.

If you have a good enough reason they may ask you to include a reasonable cause letter ...if you don't have a good enough reason I suggest you find one.

You should also be aware that they no longer accept paper filings, so it will have to be submitted online.

I haven not heard of anyone being penalized for late filing of paperwork...however that is not to say it is not happening.

nelsona · Post by **nelsona** » Sun Aug 11, 2013 11:29 pm

Before fretting about this, I would just file, plain and simple.

Worry and those phoney letters only if IRS calls you.

hacanuck · Post by **hacanuck** » Sat Aug 31, 2013 9:58 am

Mehran, I m in a similar situation as yours and am working on filing FBAR. any other suggestions.

mtnman · Post by **mtnman** » Wed Sep 25, 2013 11:23 pm

Seriously Nelsona ? Can you elaborate why you say this ?

Thanks

nelsona · Post by **nelsona** » Thu Sep 26, 2013 8:36 am

So you've waited another 6 weeks to file? Seriously? Just file.