Streamlined Filing Compliance Procedures:  When a person has undisclosed foreign accounts, assets, investment and/or income and has not previously disclosed to the IRS, they may qualify for the Streamlined Filing Compliance Procedures (SFCP).

Under these procedures, a person may qualify for a reduced 5% title 26 miscellaneous offshore penalty — or even a penalty waiver.

SFCP is also referred to as:

  • Streamlined Procedures
  • Streamlined Procedure
  • Streamlined Offshore Procedures
  • Streamlined Voluntary Disclosure
  • Streamlined Disclosure
  • Offshore Streamlined Filing
  • IRS Streamlined Filing

Learn more about the Streamlined Domestic Offshore Procedures and the Streamlined Foreign Offshore Procedures.