When it comes to disclosing foreign financial accounts, many U.S. taxpayers—especially expats and those with global investments—face confusion around FBAR (FinCEN Form 114) and Form 8938 (FATCA). While both forms deal with foreign financial assets, they serve different purposes, have distinct thresholds, and are submitted to different agencies. Understanding the key differences between FBAR vs. Form 8938 is critical to staying compliant with the IRS and the FinCEN.
The session examined the new compliance challenges (OBBB Impact) and key considerations for impacted businesses, including the reporting requirements, exemptions, and the distinctions between foreign accounts and foreign assets. Become familiar with reporting thresholds; beware of the harsh consequences for non-compliance. But there’s more: Forms 3520, 5471, 8621, 8865 and 8891. Forms 926, 5472, 8300 and 8854. Find out what the wrath of FATCA has wrought
Session Highlights:
- Step-by-step instructions on how to file the FBAR online
- Understand Common FBAR mistakes to avoid penalties
- How does the IRS learn about foreign income?
- Key differences between FBAR and FATCA (Form 8938)
- Failing to comply with FBAR filing requirements can lead to severe penalties.
- Form 8938 vs. FBAR Assets: Which Financial Accounts Are Reportable on Each Form?
- Recordkeeping requirements
- FBAR deadlines and extensions
- Types of foreign accounts and assets that must be reported
- Filing exceptions and exemptions
- Streamlined filing procedures for late compliance
- Develop strategies for compliance and avoiding IRS enforcement
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS-T-00124-25-O
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Professionals
- Tax Attorneys
- Tax Compliance Managers
- Other Tax Preparers
- Accountants
Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Speaker Profile:
Jane Ryder, EA, CPA, is a nationwide professional educator.She writes and speaks on many income tax, business compliance, accounting, and tax representation topics.Jane has been providing tax preparation, accounting services, and tax collection resolution services since 1980.
She runs her San Diego CPA firm, Brass Tax Ryder Professional Group, Inc., and consults with colleagues on tax matters, audits, and business planning.
We are approved to provide CPE/CE credits to Tax Professionals
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Jane Ryder
Jane Ryder, EA, CPA, is a nationwide professional educator.She writes and speaks on many income tax, business compliance, accounting, and tax representation topics.Jane has been providing tax preparation, accounting services, and tax collection resolution services since 1980.
She runs her San Diego CPA firm, Brass Tax Ryder Professional Group, Inc., and consults with colleagues on tax matters, au...
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