# Accountant for streamlined FBAR filing?



## tlrrd

Hi,

I've just found out that my wife (US citizen), should have been filing an 'FBAR' since we left the US back in 2006. She doesn't work, and has never filed taxes since we left. (I'm a UK Citizen)

I want to sort things out and need a recommendation of a CPA to do this. (Or do I need a tax lawyer for this)? I think she probably qualifies for streamlined filing, and therefore we should get someone how is experienced with this, and the streamlined process.

Anyone have any personal recommendations? There is a lot at stake as I foolishly lent her the money I have been saving as a deposit for a house so she could put it in a bank account and earn interest on it.

Yours faithfully,

tlrrd


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## Bevdeforges

The FBAR forms are very straight-forward - they are simply a listing of non-US accounts over which you have signature authority. (OK, you need to put a "high balance" for the year, too, but you can estimate that - best to estimate high. But there's no penalty for "over-reporting.")

If she has no income in her own name, she doesn't really have to file regular tax forms. (The filing threshold for "married filing separately" is about $3500. If she hasn't earned that much, then she's off the hook completely!)

But there is no need to pay for an accountant to do FBARs, even back-filing them. The form is available on the IRS website Prior Year Products Just insert this for the form you're looking for: TD F 90-22.1

The form includes the instructions. Don't let the length of the instructions put you off. The form is really quite easy to do. For the back-filings, include a letter explaining that she was unaware of her obligation to file. Unless she's sitting on millions on some Swiss bank account or something similarly exotic, it's doubtful they'll fuss about the late filings.
Cheers,
Bev


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## tlrrd

Thank you Bev!

I can't link to it but I"m following the instructions given in the very searchable document "Instructions-for-New-Streamlined-Filing-Compliance-Procedures-for-Non-Resident-Non-Filer-US-Taxpayers"

The reason I thought that she'd have to file is because this states she should 



> 1) Submit complete and accurate delinquent tax returns, with appropriate related information returns, for the last three years for which a U.S. tax return is due.


She is sitting on 300K GBP in the UK (as sadly that isn't enough for a deposit on a house yet) but it does probably earn enough interest to be over 3,500 USD. So really I guess I'm looking for someone to do the taxes, and the 6 years of FBARs, and has done the streamlined process before? Or am I making a mountain out of a molehill here?


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## Bevdeforges

Has your wife ever filed US taxes before? If she has any familiarity with the forms, it shouldn't be necessary to hire an accountant. If interest from bank accounts is her only source of income, the forms shouldn't be too complicated.

Otherwise, you may want to check with the US Embassy in London - they have an IRS office there and they may publish a list of US tax preparers that will get you started. 
Cheers,
Bev


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## expatdiane

Is your wife still a U.S. Citizen?


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## tlrrd

expatdiane said:


> Is your wife still a U.S. Citizen?


Yes, she is.


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## expatdiane

Hi Tirrd…your wife should have been filing FBARs once she had $10000 in foreign banks. She will qualify to file them with the streamlined program…she can do 6 years under the program. In 2011, there is also a form 8938 that would need to be filed, as well, if she has over $200000 of financial assets. We are very experienced with the program.


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