USIP ACCOUNTING / Personal Tax
Overseas asset reporting (FBAR / FATCA)
Reporting for overseas bank, brokerage and insurance accounts, foreign companies and property, including catch-up filings.
01 / WHO IT IS FOR
Who this is for
U.S. tax residents with bank, brokerage, cash-value insurance, company interests or property abroad, and anyone who needs to catch up on prior years.
02 / WHAT’S INCLUDED
What’s included
- FBAR (FinCEN 114) for foreign financial accounts.
- Form 8938 for specified foreign financial assets.
- Forms 5471 / 8865 for 10%+ ownership of, or officer/director roles in, foreign companies.
- Reporting foreign rental income and local taxes.
- Coordination with Form 3520 for foreign gifts, inheritances and trusts.
- Evaluating options for prior-year catch-up.
03 / PROCESS
How it works
- 01
Describe the background
Countries, asset types and years.
- 02
Receive the checklist
We send the FBAR/FATCA checklist or workbook.
- 03
Compile accounts
Compile accounts, maximum balances and asset details.
- 04
Prepare filings
Prepare the FBAR and forms filed with your return.
- 05
Review and file
Review with you, then file.
04 / DOCUMENT CHECKLIST
What to prepare
- Name, number and institution address for every foreign bank, brokerage and cash-value insurance account
- Maximum balance of each account during the year
- Foreign company shares, partnership interests or debt
- If you own 10%+ or are an officer: the company’s annual balance sheet and income statement
- Foreign gift, inheritance or trust records (see Form 3520)
- Foreign property rent, local taxes, depreciation and repairs
Prepare only what applies to you. Share SSNs, IDs and bank details through the agreed secure method, not in a first email.
FAQ
Frequently asked questions
What is the maximum balance?
The highest value in the account at any point in the year, not the year-end balance.
What if I missed prior years?
Contact us with the background; we evaluate catch-up options and scope.
Scope notes
Whether you must file depends on your facts; this page does not determine filing obligations.
Website content is general educational information, not tax, legal or investment advice for your situation.
LET’S TALK / USIP ACCOUNTING
Let’s make your
next step clearer.
Tell us what you need help with. We’ll discuss your needs before confirming a service plan.
City of Industry, CA 91748
Please do not attach sensitive personal or financial information to an initial email.
General educational information only; not tax, legal or investment advice. Service scope and engagement arrangements are confirmed directly with the firm. Information on this website does not replace advice tailored to your circumstances.