FBAR
Also called FinCEN 114 · Foreign Bank Account Report
Annual disclosure of foreign financial accounts by U.S. persons whose aggregate balance exceeds $10,000.
In full
FBAR (FinCEN Form 114) requires U.S. persons — citizens, residents, and U.S. entities — to disclose foreign financial accounts when aggregate balance exceeds $10,000 at any point during the calendar year. Filed separately from the tax return. Non-willful penalties begin at $10,000 per violation per year; willful penalties can exceed the account balance.
Governed by: FinCEN Form 114 reporting requirement.
This definition is general information about how the term is used in U.S. cross-border tax. It is not advice, and how it applies depends on your own facts and on the treaty, if any, in force with your country.