FBAR for Americans in Thailand
For US taxpayers.
If you are a US person with Thai bank accounts, you may need to file an FBAR each year. Here is how the rule works and what to do if you have missed filings.
Work with a licensed tax professional online, from anywhere in Thailand.
$249 IRS Notice Review $599 IRS Situation Assessment $799 Rush IRS Situation AssessmentQuestions first? Email [email protected] or call or text (256) 690-0213 (US number).
Who has to file
A US person must file FinCEN Form 114 (FBAR) if the combined maximum value of their foreign financial accounts was more than $10,000 at any time during the calendar year. Accounts at Thai banks count, including joint accounts and some accounts you can sign on.
The FBAR is filed electronically with FinCEN through the BSA E-Filing System, separately from your tax return. FinCEN states the due date is April 15, with an automatic extension to October 15.
FBAR and Form 8938
Some taxpayers must also report foreign assets on IRS Form 8938 with their return. Thresholds for Form 8938 are higher for taxpayers living abroad, and the two forms are separate requirements.
If you missed FBARs
Options depend on whether you also missed tax returns and why. The IRS has procedures for delinquent FBARs and the Streamlined procedures for eligible taxpayers. We review your facts and explain which path may fit.
Frequently asked questions
Do I need to file an FBAR for my Thai bank account?
If you are a US person and the combined maximum value of all your foreign accounts was more than $10,000 at any time in the year, FinCEN generally requires an FBAR.
Is the FBAR filed with my tax return?
No. The FBAR is filed electronically with FinCEN through the BSA E-Filing System, separate from your IRS return.
What if I did not know about the FBAR?
The IRS has procedures for people who missed FBARs, including the Streamlined procedures for eligible non-willful taxpayers. Eligibility depends on your facts.
Work with a licensed tax professional online, from anywhere in Thailand.
$249 IRS Notice Review $599 IRS Situation Assessment $799 Rush IRS Situation AssessmentQuestions first? Email [email protected] or call or text (256) 690-0213 (US number).
Official sources
- IRS: Report of Foreign Bank and Financial Accounts (FBAR)
- FinCEN: Report Foreign Bank and Financial Accounts
- FinCEN BSA E-Filing System
- IRS: Streamlined filing compliance procedures
General information only, not legal or tax advice for your situation. Caros Group is a private company and is not affiliated with the IRS, the U.S. Department of State, FinCEN, the U.S. Embassy, or the Thai Revenue Department. We do not promise any outcome or timeline. Thai tax questions may need a Thai-licensed advisor.