FATCA Streamlined Procedure (U.S. & Non-U.S. Residents)

FATCA Streamlined Procedure (U.S. & Non-U.S. Residents)

FATCA Streamlined Procedure (U.S. & Non-U.S. Residents)

FATCA Streamlined Procedure: The FATCA Streamlined Procedures are great way for individuals, trusts and estates to get into IRS offshore compliance with a minimal collateral damage.

FATCA Streamlined Procedure

Technically, there are two streamlined procedures. The main program is referred to is a streamlined filing compliance procedures. 

This program can be broken down further into two programs, and eligibility as determined by whether they applicant is a US resident or non-US resident (in addition to other threshold requirements).

U.S. Resident FATCA Streamlined Procedure

In order to qualify for the FATCA Streamlined Procedure for U.S. Residents, there are 3 main requirements:

Previously Filed Tax Returns 

The filer must have filed original (and timely) tax returns.

*There is some leeway as to how the IRS evaluates the term “timely,” for the Streamlined Procedures.

Qualifies as Non-Willful

The filer must be non-willful. While there is not bright-line rule for willful vs. non-willful, the IRS is clear that if the person is willful, they do not qualify for the Streamlined Procedures. Additionally, willful is not limited to “intentionally,” and includes both reckless disregard and willful blindness. 

Not Currently Under Examination or Audit

If an applicant is under audit or examination, they are disqualified from apply to the IRS Streamlined Procedures.

Non-U.S. Residents Procedures for FATCA Streamlined  

In order to qualify for the FATCA Streamlined Procedure for non-U.S. Residents, there are also 3 main options:

Must Be Able to Certify as Non-Willful

As explained above, there is no bright-line test for willfulness vs. non-willfulness. But, we have prepared our own analysis of willful vs. non-willful, which may help guide you through the process of determining where you fall on the spectrum.

Meet the Requirements to Qualify as a Foreign Resident

There are two different rules to determine if you meet the foreign resident test. One rule is for U.S. Citizens and Legal Permanent Residents, and one rule is for non-residents who met the substantial presence test during the compliance period.

Not Presently in an IRS Audit

As with the Streamlined Procedures for U.S. residents, if an applicant is under audit or examination, they are disqualified from apply to the IRS Streamlined Procedures.

FATCA Streamlined Procedure Lawyers, Golding & Golding (Board-Certified)

We specialize exclusively in international tax, and specifically IRS offshore disclosure.

We have successfully represented clients in more than 1,000 streamlined and voluntary offshore disclosure submissions nationwide and in over 70-different countries. We have represented thousands of individuals and businesses with international tax problems.

We are the “go-to” firm for other Attorneys, CPAs, Enrolled Agents, Accountants, and Financial Professionals across the globe.

We are the “go-to” firm for other Attorneys, CPAs, Enrolled Agents, Accountants and Financial Professionals worldwide.

Less than 1% of Tax Attorneys Nationwide Are Certified Specialists

Sean M. Golding is one of less than 350 Attorneys (out of more than 200,000 practicing California Attorneys) to earn the Certified Tax Law Specialist credential. The credential is awarded to less than 1% of Attorneys.

Recent Golding & Golding Case Highlights

  • We represented a client in an 8-figure disclosure that spanned 7 countries.
  • We represented a high-net-worth client to facilitate a complex expatriation with offshore disclosure.
  • We represented an overseas family with bringing multiple businesses & personal investments into U.S. tax and offshore compliance.
  • We took over a case from a small firm that unsuccessfully submitted multiple clients to IRS Offshore Disclosure.
  • We successfully completed several recent disclosures for clients with assets ranging from $50,000 – $7,000,000+.
How to Hire Experienced Streamlined Counsel?

How to Hire Experienced Streamlined Counsel?

How to Hire Experienced FATCA Streamlined Counsel?

Generally, experienced attorneys in this field will have the following credentials/experience:

  • Board Certified Tax Law Specialist credential
  • Master’s of Tax Law (LL.M.)
  • Dually Licensed as an EA (Enrolled Agent) or CPA
  • 20-years experience as a practicing attorney
  • Extensive litigation, high-stakes audit and trial experience

Interested in Learning More about Golding & Golding?

No matter where in the world you reside, our international tax team can get you IRS offshore compliant. 

Golding & Golding specializes in FBAR and FATCA. Contact our firm today for assistance with getting compliant.=

Golding and Golding, Board-Certified Tax Law Specialist

Golding and Golding, Board-Certified Tax Law Specialist

Golding & Golding: Our international tax lawyers practice exclusively in the area of IRS Offshore & Voluntary Disclosure. We represent clients in 70+ different countries. Managing Partner Sean M. Golding is a Board-Certified Tax Law Specialist Attorney (a designation earned by < 1% of attorneys nationwide.). He leads a full-service offshore disclosure & tax law firm. Sean and his team have represented thousands of clients nationwide & worldwide in all aspects of IRS offshore & voluntary disclosure and compliance during his 20-year career as an Attorney.

Sean holds a Master's in Tax Law from one of the top Tax LL.M. programs in the country at the University of Denver. He has also earned the prestigious IRS Enrolled Agent credential. Mr. Golding's articles have been referenced in such publications as the Washington Post, Forbes, Nolo, and various Law Journals nationwide.
Golding and Golding, Board-Certified Tax Law Specialist