Missing an FBAR filing deadline is more common than many people realize — but the IRS has a formal process to help eligible taxpayers correct this without facing maximum penalties.  If so, the IRS has a formal process for addressing this issue. It’s called the Delinquent FBAR Submission Procedures.

These procedures are designed specifically for people who forgot to file, didn’t know they were required to file, or simply fell behind. If you qualify, you may be able to get back into compliance with your FBAR filing obligations without facing significant penalties.

This guide explains who qualifies, how the process works, and what you should know before filing.

What Is an FBAR, and Who Has to File One?

An FBAR, formally known as FinCEN Form 114, is a report of foreign bank and financial accounts. If you’re a U.S. citizen, green card holder, or resident and the combined value of your foreign financial accounts exceeded $10,000 at any point during the year, you may need to file an FBAR.

The filing threshold is based on the total value of all foreign accounts combined, not the balance of each account individually.

Who Must File?

• U.S. citizens living abroad
• Green card holders, regardless of where they live
• Individuals who qualify as U.S. residents for tax purposes
• Anyone with signature authority over a foreign account, even if they do not own it

What Is a Delinquent FBAR, and Does the Number of Missed Years Matter?

A delinquent FBAR is an FBAR that was not filed by the required deadline. In simple terms, it refers to a late or missed filing for foreign financial accounts that should have been reported.

This may include:

• One missed year
• Several missed years
• Accounts that were never reported because you did not know an FBAR was required

What Happens If You Missed FBAR Filings for More Than One Year

Missed one year: This is usually the simplest situation to correct. You file the late FBAR, include an explanation, and, provided there is no unreported income, the matter is generally resolved.

Missed multiple years: You must file a separate FBAR for each year you missed. The IRS expects a complete filing history, not a partial catch-up. Skipping years can create additional issues.

Never filed at all: You generally file FBARs for all years within the six-year lookback period. While the IRS does not distinguish between “I didn’t know” and “I forgot,” both situations may still qualify as non-willful conduct.

Missing several years of FBAR filings does not automatically disqualify you from the Delinquent FBAR Submission Procedures. However, this option is generally intended for non-willful cases.

Understanding the IRS Delinquent FBAR Submission Procedures 

The Delinquent FBAR Submission Procedures provide a way for eligible taxpayers to correct late or missed FBAR filings.

These procedures are generally intended for individuals who failed to file required FBARs, have no unreported income related to those accounts, and are not under IRS examination.

Confirm Your Eligibility

You may qualify if all of the following are true:

• You have no unreported income from the foreign accounts
• You are not currently under IRS civil examination or criminal investigation
• The IRS has not contacted you regarding the delinquent FBARs

Note that if your foreign accounts also trigger FATCA reporting thresholds, Form 8938 may need to be filed alongside your delinquent FBAR submissions. 

Gather Your Account Records

You’ll need account statements showing the highest balance in each account for every year you’re filing late. The IRS looks at the maximum value during the year, not the year-end balance.

File Through FinCEN’s BSA E-Filing System

FBARs are not filed with your tax return. They must be submitted through FinCEN’s BSA E-Filing System. A separate FBAR must be filed for each year you missed.

Include an Explanatory Statement

This step is required. In the Explanation field of FinCEN Form 114, briefly explain why the FBAR was not filed on time. Keep your explanation factual, concise, and accurate.

Keep Copies of Your Submission

Save proof of every FBAR submission. The BSA E-Filing System generates a confirmation number after filing. Retain this information for your records.

Do You Qualify for Delinquent FBAR Procedures or Need a Streamlined Disclosure?

The appropriate method for correcting missed FBAR filings depends on more than the filing itself. Factors such as unreported income can determine which compliance option is available.

Use Delinquent FBAR Submission Procedures If:

• Your foreign accounts generated no unreported income
• You are not under IRS examination
• You do not owe additional tax related to those accounts

Consider the Streamlined Filing Compliance Procedures If:

• Your foreign accounts generated income that was not reported on your U.S. tax return
• You need to amend prior-year tax returns in addition to filing FBARs

The Streamlined Filing Compliance Procedures are more comprehensive because they address both delinquent FBARs and any related unreported income — available as either the Streamlined Foreign Offshore Procedures (for expats) or the Streamlined Domestic Offshore Procedures (for U.S.-based taxpayers).  

How to File Late FBARs Through the BSA E-Filing System

FBARs are filed with FinCEN through the BSA E-Filing System, not with the IRS. Here’s how the process works.

Go to the Correct Website

Use the BSA E-Filing portal, not the IRS website. Make sure you’re accessing the correct filing system before starting.

Select the Correct Form

Choose FinCEN Form 114 (FBAR). If you’re filing for a prior year, select the appropriate reporting year before completing the form.

Create an Account or Log In

First-time users must register with a valid email address. This account is separate from any IRS online account.

Complete the Form

You’ll need to provide:

• Your personal information, including your name, SSN or ITIN, and address
• Details of each foreign account, including the financial institution name, country, account number, and maximum account value during the year

Complete the Explanation Field

Briefly explain why you’re filing late. One or two clear, factual sentences are typically sufficient.

Submit and Save Your Confirmation

After submission, the system generates a BSA ID confirmation number. Save it immediately. This serves as proof that your filing was successfully submitted.

Important: A separate FinCEN Form 114 must be filed for each year you missed. If you’re correcting three years of delinquent filings, you’ll need to submit three separate FBARs.

Final Thoughts

Missing an FBAR deadline is more common than many people realize, particularly among expats, foreign nationals, and green card holders managing financial obligations in multiple countries.

Fortunately, the IRS developed the Delinquent FBAR Submission Procedures to help eligible taxpayers correct delinquent FBAR filings.

If you have overseas accounts and did not earn any unreported income, and you are not under scrutiny, this may be a valid way to get into compliance without fines. The key is to take action before the IRS reaches out to you. Working with an international tax professional experienced in FBAR compliance ensures your filings are accurate, complete, and properly documented.