Foreign Account Reporting
FBAR and FATCA thresholds, signature authority rules, peak-balance requirements, and penalty amounts. Non-willful FBAR penalties start at $16,117 per account per year.
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International Tax Filing Checklist
Every form, threshold, and deadline U.S. taxpayers with foreign accounts, foreign income, or cross-border obligations need to know — before it becomes a penalty problem.
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What the Checklist Covers
Foreign Income and Tax Credits
FEIE vs. Foreign Tax Credit election, physical presence test, foreign rental income, pension distributions, and Form 1116 carryforward rules.
Foreign Entity Ownership
Forms 5471, 5472, 8865, 8858, 3520, and 8621 (PFICs). Who files, when, and what the automatic penalties are for missing each form.
Key Deadlines
April 15, June 15, and October 15 deadlines mapped to each form. Extension rules for FBAR, expats, and corporate returns.
Foreign Nationals in the U.S.
H-1B, L-1, and green card filing requirements. Dual-status years, residency start date rules, and first-year election guidance.
Catch-Up Filing Options
Streamlined Domestic and Foreign Offshore Procedures, Delinquent FBAR procedures, and reasonable cause penalty abatement pathways.
Why This Checklist Exists
Most international penalties are automatic
The IRS does not always send a warning before assessing international information return penalties. Form 5472 carries a $25,000 automatic penalty. Form 3520 penalties start at 35% of the unreported amount. FBAR penalties can exceed the balance of the account itself for willful violations.
This checklist helps you identify which forms apply to your situation before you file — so nothing gets missed, and penalties stay where they belong: on someone else's return.
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