How to Remedy a Delinquent FBAR Filing Before It’s Too Late in 2026

Taxpayers behind on FBAR filings should come into compliance before it’s too late. By submitting a voluntary disclosure, taxpayers can avoid IRS scrutiny and its risks. Depending on the circumstances, this may involve coming forward under the IRS’s Streamlined Filing Compliance Procedures or the IRS CI’s Voluntary Disclosure Practice.

The IRS strictly enforces compliance with U.S. taxpayers’ foreign bank account reporting obligations. Taxpayers who fail to timely file a Report of Foreign Bank and Financial Accounts (FBAR) are subject to steep penalties, and the IRS routinely pursues audits and investigations targeting FBAR noncompliance. As a result, taxpayers with delinquent FBARs should prioritize coming into compliance. Learn more from New York tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.

What Should You Do if You Missed the FBAR Filing Deadline in 2026?

If you missed the FBAR filing deadline in 2026, you should promptly consult with experienced tax counsel about submitting a voluntary disclosure. Taxpayers can submit voluntary disclosures until the IRS opens an audit or investigation.

Once the IRS opens an audit or investigation, any disclosures made during the process are no longer considered voluntary. As a result, taxpayers are no longer eligible for the benefits that are available under the IRS’ voluntary disclosure programs. Additionally, if you know you are noncompliant and fail to take corrective action before the IRS opens an inquiry, the risks can increase further.

What Are the Voluntary Disclosure Options for Delinquent FBARs?

Taxpayers have two primary options to come into compliance after missing the FBAR filing deadline. If you inadvertently missed the filing deadline, coming into compliance typically involves submitting a streamlined filing. The IRS has established separate Streamlined Filing Compliance Procedures for taxpayers living in the U.S. and abroad.  

Taxpayers who have willfully failed to file an FBAR may need to come forward under IRS CI’s Voluntary Disclosure Practice (VDP). The VDP provides a pathway for taxpayers to avoid facing criminal prosecution after willfully violating the nation’s tax laws. The VDP has strict eligibility and procedural requirements, and taxpayers must be careful when pursuing this option—immunity from prosecution is not guaranteed.

How Thorn Law Group Can Help

If you need to come into compliance with your FBAR filing obligations, we can help you make informed and strategic decisions focused on protecting your best interests. We can also communicate with the IRS on your behalf. We have extensive experience in this area, and we can use it to help protect you, regardless of the circumstances.  

Request a Call with New York Tax Lawyer Kevin E. Thorn

Are you behind on your foreign bank account reporting obligations? If so, contact us promptly. Call 914-534-6004 or contact us online to request a call with New York tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.