[IMGCAP(1)]Several due dates for those with offshore accounts are approaching, with far-reaching consequences for those who don’t comply.

The first, June 30, is for those taxpayers with foreign accounts whose aggregate value exceeds $10,000 any time during the year. They must file a Form 114, Report of Foreign Bank and Financial Accounts (FBAR) electronically through FinCEN’s BSA E-Filing System. The FBAR is not filed with a federal tax return and must be filed by June 30 each year.

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