FBAR Tax Lawyers - Report Foreign Accounts | Board Certified in Tax - Golding & Golding

FBAR Tax Lawyers – Report Foreign Accounts | Board Certified in Tax – Golding & Golding

FBAR Tax Lawyers – Report Foreign Accounts | Board Certified in Tax

FBAR Tax Lawyers: We Specialize in IRS Foreign Account Disclosure (Board Certified Specialist in Tax Law): Sometimes you may need an FBAR Tax Lawyer for assistance, and other times, it may not be necessary. It depends on a Taxpayers facts and circumstances, and the nature of their non-compliance with FBAR filing requirements.

FBAR Tax Lawyers

The two most important aspects to purchasing a service, are usually the following:

Do I need the service?

What will it Cost Me?

What is an FBAR Tax Lawyer?

An FBAR Tax Lawyer is Lawyer who specializes in both Tax, and Foreign Bank and Financial Account Reporting penalty defense, mitigation and abatement.. FBAR compliance is very complex, since it may include related issues such as FATCA, PFIC, GILTI, and more.  At Golding & Golding, we are the only firm worldwide that focuses exclusively in this area of law, in which each case is led by a Board Certified Tax Law Specialist (Less than 1% of Attorneys nationwide).

Are You at Risk for Offshore FBAR Penalties?

The spectrum for FBAR Fines and Penalties is extremely divergent. Our FBAR Tax Lawyers can help.

In some circumstances, the IRS penalties for unfiled or late FBARs are bad, and sometimes, well…they’re not so bad. You may even receive a Warning Letter in Lieu of Penalty. It jut depends on the different facts and circumstances of your situation

FBAR Penalties can be Civil or Criminal. They can then be broken down further, but the threshold question, is whether the IRS will get you for Civil (money) or Criminal (money, and worse).

Civil Foreign Bank Account Penalties

Civil FBAR Penalties are limited to monetary penalties. A civil FBAR Penalty is a penalty that is focused on monetary fines or warning letters (waivers) — without any risk of criminal investigation or prosecution.

U.S. Code citationCivil Monetary Penalty DescriptionCurrent Maximum
31 U.S.C. 5321(a)(5)(B)(i)Foreign Financial Agency Transaction – Non-Willful Violation of Transaction$12,921
31 U.S.C. 5321(a)(5)(C)Foreign Financial Agency Transaction – Willful Violation of TransactionGreater of $129,210, or 50% of the amount per 31 U.S.C.5321(a)(5)(D)
31 U.S.C. 5321(a)(6)(A)Negligent Violation by Financial Institution or Non-Financial Trade or Business$1,118
31 U.S.C. 5321(a)(6)(B)Pattern of Negligent Activity by Financial Institution or Non-Financial Trade or Business$86,976

Penalties for Civil FBAR can be Broken down into two (2) categories:

  • Willful FBAR Penalties
  • Non-Willful FBAR Penalties

Non-Willful FBAR Penalties

These FBAR Penalties are typically the least severe penalties. An FBAR non-willful penalty is a “lower-level” penalty for not filing the FBAR. The non-willful penalties can be high, BUT, typically they are not as high as willful penalties.

Willful FBAR Penalties and (Reduced) Willfulness

The Willful FBAR Penalty is typically more severe. An FBAR Willful Penalty is penalty for acting willful, willfully blind, or with reckless disregard in not filing the FBAR. We have provided detailed explanations and analyses in our free International Tax Law library about these different terms, and what they mean.

A few important considerations:

Criminal Foreign Bank Account Penalties

Criminal FBAR Penalties may include monetary penalties and incarceration. This is when the IRS refers the matter to the Department of Justice (DOJ) or other 3 letter government faction for criminal investigation and possible prosecution. These are not very common, but unfortunately they are on the rise.

U.S. Code citationCriminal Violation & DescriptionCriminal Penalty
31 C.F.R. §103.59(b) Willful – Failure to File FBAR or retain records of accountUp to $250,000 or 5 years or both
31 C.F.R. §103.59(c) Willful – Failure to File FBAR or retain records of account while violating certain other lawsUp to $500,000 or 10 years or both
31 C.F.R. §103.59(c)  Knowingly and Willfully Filing False FBAR$10,000 or 5 years or both
Civil and Criminal Penalties may be imposed together. 31 U.S.C. § 5321(d).See StatutesSee Statutes

FBAR Tax Lawyer Attorney’s Fees 

In general, Attorney’s fees will vary based on the facts and circumstances of each case. Sometimes, an FBAR Attorney is not needed, but more often than not, the client benefits from hiring an Attorney for FBAR.

There is no, one-sized, flat-fee for FBAR cases.

Why? Because FBAR cases are so divergent and individualized, that it would be impossible for a one-size-fits-all fee.

Are there Fees to File the FBAR?

No, there is no fee to file an FBAR.

You get to report and disclose your foreign and financial account information to the IRS, free of charge.

How Much are Attorney’s Fees for FBAR Non-Compliance?

As in life, you get what you pay for. 

Attorney’s fees will range, based on:

  • Type of matter
  • Complexity of matter
  • Number of years of non-compliance
  • How many accounts or assets
  • Value of unreported
  • How much unreported income
  • Were taxes paid overseas on the income (if required)
  • Willful vs. Non-willful
  • Your goals and expectation for representation

Researching FBAR Attorneys?

Understanding how Attorneys charges for representation in Foreign Account matters is important.  We are the Attorneys that other attorneys, CPAs, Enrolled Agents, Accountants and other professionals turn to when they need help.

We practice exclusively in the area of Foreign Bank and Financial Account compliance.

If you are interested in learning about when you may need an Attorneys please visit What do Attorneys for FBAR do, and when you may need to hire one.

Golding & Golding – Board Certified Specialist

Our IRS FBAR Team is led by a Board Certified Tax Attorney Specialist, who specializes in FBAR Penalty Defense, Mitigation and Abatement.

To get the best representation possible, you need an experienced Board Certified Tax Law Specialist, with advanced tax law degrees and advanced certifications.

If you want to hire a newer private-practice attorney that just opened shop a few years ago, hoping to save a little money on fees,  where they sold you on some “over-hyped” Kovel Letter – you’re putting yourself at risk.

Those cases usually end up on our doorstep down the line after the attorney made significant mistakes on the submission (sometimes costing the client significant amounts of time and fees that could have been avoided)

Examples of recent cases we had to takeover from less experienced Attorneys can be found by Clicking Here (Case 1) and Clicking Here (Case 2).

Flat-Fee & Full-Service Attorneys for FBAR Representation

All Non-Willful FBAR cases should be Flat-Fee, Full-Service for both Tax and Legal.

*If you were willful in not submitting the FBAR, the submission and analysis is much different and you need to discuss the specifics with you counsel such as whether you are already under investigation, have you been contacted by the Special Agents, etc.

Schedule a Reduced-Fee Consultation to Discuss FBAR

We have handled more than 1000 disclosures, and have spoken with thousands more people regarding reporting foreign assets, accounts, investments and income to the IRS (OVDP, Traditional Voluntary Disclosure, Streamlined and Reasonable Cause).

Scheduling a reduced-fee consultation with our team is a highly-effective way for you to determine what your potential liability, strengths, and weaknesses will be when you decide to move forward with a streamlined disclosure to the IRS.

In addition, we help you weed out the online marketing scams, false advertising, and unnecessary fear mongering and scare mongering.

Need a Second Opinion on Your FBAR Case?

Lately, with rumblings of the Streamlined Disclosure Program, aka Streamlined Voluntary Disclosure aka Streamlined Filing Compliance Procedures coming to an end, some younger and inexperienced attorneys are in disarray — and handing out terrible advice to make a quick buck — and putting clients at risk. 

We know how the bad the information is you are receiving.


Because those cases usually end up on our door-step, and it is getting worse than ever.

Examples of recent cases we had to takeover from less experienced Attorneys can be found by Clicking Here (Case 1) and Clicking Here (Case 2).

Contact Golding & Golding Today, We Can Help You.

International Tax Lawyers - Golding & Golding, A PLC

International Tax Lawyers - Golding & Golding, A PLC

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, JD, LL.M., EA and his team have represented thousands of clients in all aspects of IRS offshore disclosure and compliance during his 20-year career as an Attorney. Mr. Golding's articles have been referenced in such publications as the Washington Post, Forbes, Nolo and various Law Journals nationwide.

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, and has also earned the prestigious Enrolled Agent credential. Mr. Golding is also a Board Certified Tax Law Specialist Attorney (A designation earned by Less than 1% of Attorneys nationwide.)
International Tax Lawyers - Golding & Golding, A PLC