FBAR Calculation Worksheet

Description

If you are a US citizen with more than $10,000 in all of your foreign bank accounts combined at any point in time over the last year, you need to fill out and submit the FBAR filing by April 15. If you don’t, then you may have to pay a fine in excess of $13,000!

This Google Sheets workbook will help you to calculate the US dollar bank account balances to input into the Report of Foreign Bank & Financial Accounts (FBAR) filing, also known as FinCEN Report 114. This Google Sheets workbook contains the following primary tabs:

• Calculation: This is the primary tab that you should refer to in order to get the amounts to input into the filing for each of your foreign bank accounts after filling out the below two tabs. You will see the max monthly balance for each of up to 10 bank accounts, the currency that the account is in, the exchange rate for that currency to US Dollars, and the calculated amount to insert into your filing document
• Exchange Rates: In this tab, you can input the exchange rates for each of the currencies your bank accounts use. Cell B1 provides information on where to get the exchange rates to use in this tab
• Balances: You can input the monthly balances and currencies of up to 10 bank accounts in this tab to determine your highest monthly balance in each account

Delivery Method: Shortly after completing your purchase, you will receive an order confirmation email from WooCommerce containing the link to access this worksheet

Disclaimer: David McNeill, Expat Empire, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. We have not undertaken to independently verify whether this information is complete and accurate as of any particular date or dates. This report may also be based on assumptions and estimates (which may be incorrect). You should not use this report as a substitute for your own judgment, and you should consult professional advisors before making any tax, legal, financial planning, or investment decisions.