International Compliance
U.S. International Tax Compliance | FBAR | FATCA
Your Global Life Has U.S. Tax Obligations
If you hold foreign accounts, own shares in a foreign company, received a foreign gift, or live outside the United States, you must be aware of your foreign tax obligations. The IRS has strict FATCA reporting and FBAR compliance requirements for you, and the penalties for failing to meet them can be severe. We help you navigate these complexities to ensure you get compliant, stay compliant, and sleep at night.
International Tax Compliance: Understanding Your Obligations
Expats & Dual Residents
U.S. citizens and green card holders living abroad who continue to file U.S. taxes may have foreign tax obligations, including unreported foreign bank accounts, pension plans, or investment accounts, which could require FATCA reporting and FBAR compliance.
Business Owners with Foreign Operations
U.S. shareholders who own 10% or more of a foreign corporation — regardless of whether dividends were paid or income was earned — must adhere to annual disclosure requirements, which include FATCA reporting and FBAR compliance, as well as fulfilling their foreign tax obligations.
Recipients of Foreign Gifts & Inheritances
Received money from a non-U.S. person or entity? Gifts over $100,000 and foreign trust distributions carry strict reporting obligations, including FATCA reporting and FBAR compliance, that most CPAs miss when addressing foreign tax obligations.
Foreign Investors in U.S. Assets
Non-U.S. persons investing in U.S. real estate, businesses, or securities face FIRPTA withholding, treaty analysis, and ITIN compliance challenges, along with FATCA reporting and FBAR compliance issues, that require specialized counsel to navigate their foreign tax obligations.
Immigrants & New Residents
Newly arrived in the U.S. with pre-immigration assets abroad? Engaging in pre-immigration tax planning and developing a first-year filing strategy can help you navigate foreign tax obligations, ensuring FATCA reporting and FBAR compliance to prevent years of penalty exposure.