Don’t Forget About Filing Your FBAR and Related Forms on Tax Day

Few tax filing requirements raise the ire of taxpayers like the FBAR.

The FBAR, or Report of Foreign Bank and Financial Accounts, filing requirements were introduced in 1970 as part of the Bank Records and Foreign Transactions Act, commonly known as the Bank Secrecy Act. It’s actually not a tax law—you’d find those in Title 26 of the federal statutes—and it’s located in Title 31, Money and Finance: Treasury, at 31 CFR 103.24.

It used to be the case that you didn’t hear much about FBARs. But over the years, there’s ...