New Updated FBAR Filing Verification Submission Process: In late 2019, the IRS updated the FBAR filing verification process to confirm your FBAR Submission was received. Since the Internal Revenue Service is aggressively enforcing FBAR Reporting. It is important to timely and accurately file the annual FBAR. If you are unsure if your FBAR was properly filed, it is important to note that the IRS has changed the process. The IRS updated procedures for FBAR filing verification requests can be found in the IRM aka Internal Revenue Manual 4.26.16
The new procedures are more complicated. As a result, confirming whether your FBAR has been filed has just become more difficult.
New Updated FBAR Filing Verification Submission Process
The 2019 updated FBAR Filing Verification Process (and request procedures) is very important to filers, since FBAR penalty and enforcement is at an all-time high. Under the new revised procedures (contained in IRM aka Internal Revenue Manual 4.26.16), the IRS will no longer accept verbal requests.
How to Verify an FBAR was Processed
As provided by the recently published IRS Memorandum, the IRS provides the following:
Please ensure this information is distributed to all affected employees within your organization. Currently, IRM 22.214.171.124.13(4) allows a filer to call the IRS FBAR hotline (1-866-270-0733, option 1) for verbal verification of up to five FBAR filings at no charge.
Written requests are required for more than five verifications, for paper copies of filed FBAR reports, and for any verification or copy requested by an authorized power-of-attorney.
Written requests must be accompanied by payment in accordance with IRM 126.96.36.199.13(4)(b). In response to written requests, IRS sends a letter stating whether the record shows that an FBAR was filed and if so, the date filed.
If a copy of a paper-filed FBAR was requested, a copy is included with IRS’ letter. Effective as of the date of this memorandum, IRS will no longer accept verbal verification requests; all must be submitted in writing.
This change is necessary to provide documentary evidence of all verification inquiries and IRS’ response to them. As a result, the existing fee structure in IRM 188.8.131.52.13(4)(b) will apply to all verification requests.
This guidance will be incorporated into IRM 4.26.16, Report of Foreign Bank and Financial Accounts (FBAR), within two years of issuance.”
Out of FBAR Compliance? 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.
- Learn more about the Board-Certified Tax Lawyer Specialist credential
- Learn more about the Enrolled Agent credential
- Learn more about Golding & Golding’s Case Accomplishments
- Learn more about Golding & Golding Testimonials from prior clients
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 FBAR 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.
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.