Late Filing

The IRS recognizes that some U.S. taxpayers living abroad have failed to timely file U.S. federal income tax returns or FBARs, but have recently become aware of their filing obligations and now seek to come into compliance with the law. The streamlined filing compliance procedures are available to taxpayers certifying that their failure to report foreign financial assets and pay all tax due in respect of those assets did not result from willful conduct on their part. For eligible U.S. taxpayers residing outside the United States, all penalties will be waived by the IRS.


If you have properly reported all foreign assets on previous returns, but have missed this year’s due date, you should file the past-due tax return, regardless of whether or not you can pay in full. By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and for failing to pay taxes they owe by the due date. The penalty for failing to timely file your tax return is generally higher than the penalty for failure to timely pay your taxes.