# Fbar



## vulture

I overstated my 2011 FBAR by USD6000. This was because of how my passbook was updated. On my FBAR I declared that I had USD43,000. when in fact I only had USD37,000. I can easily prove that. What I want to know is do I need to file an FBAR amendment? It was a stupid mistake, but an amendment might put me on their radar so to speak. Any advice. Thanks


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## Bevdeforges

Not to worry - no one is going to bother with you if you overstated your high account balance. And actually, it's doubtful they'd come after you if you reported the account but may have underestimated the balance by a bit. (Unless you've got accounts running into the millions or more.)

I've actually recommended to people to add 5 or 10 thousand if they have doubts. 
Cheers,
Bev


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## ConnieS

Hi Bevdeforges,

I have the same problem, but in reverse. I have a checking account that I believe had only $500 in it. I had 10 other accounts, all CDs, with anywhere between $5000 to $10,000 in each account. I reported all 11 accounts on the 2014 FBAR, and I reported the correct maximum value of all 10 CDs. But a new statement I received recently shows that money that was put into the 10 CD accounts first passed through that checking account before becoming CDs. The money sat in the checking account, maybe a few hours to no more than 2 days, before being transferred into CD accounts, but looking at that statement now, I see that the maximum value was around $18,000. 

Do I need to amend my 2014 Fbar to show the new maximum value, or is that really not necessary? This statement I received is almost a year after filing, so I am afraid that they are going to think that I made a mistake, not the bank. I am actually kinda of angry about this because the bank didn't send me this statement last year. Whether it is $500 or $18,000, I paid all taxes dues and reported all interest earned, so am wondering if I should be worried. Do you suggest I amend or am I inviting trouble on myself for being nitpicky? I am 70 years old and this is stressing me more that I need right now.


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## BBCWatcher

If it's stressing you out then go ahead and file an amended FinCEN Form 114. In the explanation field just put the truth: "Reporting new account balance for Account [X] based on new information provided by Bank [Y] on Date [Z]." And then sleep better. Problem solved.

The U.S. Treasury Department doesn't expect you to have psychic, fortune telling, or other supernatural powers. You've got new information, and now you can report it. Easy.

I once got a corrected financial statement from a particular institution that was issued _two years_ after the reality it was supposed to reflect. It's not your or my fault when it happens, so we just dutifully pass the new information on, that's all.


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## Bevdeforges

Personally, I wouldn't bother amending the FBAR. But if it makes you sleep better, it's only a matter of cranking up the computer and re-doing what you originally submitted. If this were ever to be questioned, the fact of your having received the "corrected" statement two years later would most likely be taken into account most sympathetically.
Cheers,
Bev


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