FBAR

AcronymDefinition
FBARFilm Bulk Acoustic Resonator
FBARForeign Bank and Financial Account Report
FBARFirst Born Anal Retentive
References in periodicals archive ?
For non-willful violations of the FBAR filing obligation that are not due to reasonable cause, the inflation-adjusted civil penalty maybe $12,459--serious money, by any standard.
Under the FBAR regulations--31 CFR 1010.350--an FBAR must be filed by a United States person with a financial interest in, or signature authority over, a bank, securities, or other financial account in a foreign country.
Strong Market Positions: Fitch expects Broadcom's #1 market positions in FBAR filters for handsets, and wired infrastructure markets, including ethernet switching, fibre optic components and set-top boxes, will drive less volatile operating results.
Since many of those exchanges are offshore, the currency triggers FBAR reporting requirements.
In 2009, rather than apply to the Offshore Voluntary Disclosure Program, which provided for a reduction in FBAR penalties, Norman filed a "quiet disclosure" through her Swiss accountant by filing amended tax returns and FBARs for the years 2003-2008 without notifying the IRS or admitting violating 31 U.S.C.
Individual Income Tax Return, or separately, an FBAR. While a client organizer will often include questions and request information about ownership of foreign assets and their maximum values and so on, the engagement letter should clearly state whether the firm's services will include preparing and filing such forms.
Even innocent small business owners and others can get swept up under the broad sweep of FBAR filing requirements, according to some experts.
In 2008, for example, there were only 300 FBAR filings for accounts in the Cayman Islands; in 2009, there were 4,500.
Figure 1 shows the proposed oven-controlled temperature compensation system with FBAR die containing heater and sensor fabricated directly on the resonator (top and bottom side of the resonator).
According to the FBAR requirements, anybody who has a financial interest or signature authority over a foreign financial account-such as a checking, savings, or brokerage account-exceeding $10,000 in aggregate on any day during the calendar year-must report the account information (name of the bank or financial institution, account number or other designation, and address) as well as the maximum amounts for each account (translated into U.S.
Did you know that if the aggregate value of those accounts exceeds just $10,000 at ANY TIME during the calendar year, you may have to file a report called an FBAR -- a Report of Foreign Bank and Financial Accounts -- with the U.S.
Generally, OVDP gives taxpayers the opportunity to fulfill their FBAR and other reporting duties and grants them protection from criminal liability, including IRC [sec]6663 fraud penalties of up to 75 percent of the unpaid tax, and it also provides more lenient terms for resolving other civil tax and penalty obligations.