I have never filed an FBAR (report of foreign bank accounts) before, but in 2019 I should have done. Do I need to therefore file FBARs for 6 years prior? Or only file the delinquent 2019 FBAR?
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It sounds like you think you didn't need to file them before 2019. Note that pretty much the same info goes on your tax return and there are some nasty penalties if you omitted that. I suspect you're getting into get-a-tax-lawyer territory.– Loren PechtelCommented Apr 22, 2021 at 2:25
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@Loren Pechtel I did not need to file a tax return before 2019 (I have carefully checked the criteria for my specific situation). The only part that is the unclear is whether I should have filed a tax return in 2019 (I earned less than the threshold but I did have a foreign account, with more than the threshold amount of money in it to file FBAR)– CameronCommented Apr 22, 2021 at 6:36
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2FBAR filing is independent of whether you need to file a return.– Loren PechtelCommented Apr 22, 2021 at 14:35
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2Specifically FBAR is filed with FinCEN, a process completely separate from filing a tax return with IRS. You must also detail foreign accounts by adding form 8938 to your tax return only if you file one and they exceed a threshold significantly higher than the $10k for FBAR (especially if you live outside US), but you are not required to file a tax return solely to report Schedule B part III. (@LorenPechtel)– dave_thompson_085Commented Apr 23, 2021 at 4:48
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