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How to amend an FBAR you already filed

Updated

Short answer

Already submitted an FBAR and discovered an error? File a complete corrected FinCEN Form 114 for that same reporting year, mark it as amended and include every account that belongs on the corrected report, not just the missing or incorrect one. You use FinCEN's BSA E-Filing system, not a Form 1040-X attachment.⁠Source 1⁠Source 2⁠Source 3

If you never filed an FBAR for the year at all, that is a different situation: consult the late FBAR guide and penalties guide before choosing a correction procedure.⁠Source 1⁠Source 2

When does an FBAR need an amendment?

Common corrections include an omitted foreign account, wrong reporting-year maximum value, wrong institution name/number, missing joint-ownership or signature authority information, or an incorrect reporting year. First verify that the underlying account was reportable and gather documents supporting the revised details.⁠Source 1⁠Source 2

If you discover a foreign brokerage balance was valued incorrectly, review the securities balance guide and the maximum account value rules before revising the form.⁠Source 1⁠Source 2

How to file the amended form step by step

1. Retrieve the originally filed FBAR and its BSA acknowledgement/identification number, if available. Make a complete corrected account list for the original reporting year; compare it to the first submission.⁠Source 1⁠Source 2

2. Start a new FBAR for the same calendar year in BSA E-Filing and check the "Amended" box. Enter the Prior Report BSA Identifier from the original filing's acknowledgement. If you can't find it, or you filed the original on paper, enter 14 zeros (00000000000000).⁠Source 1⁠Source 2⁠Source 4

3. Re-enter all the account information, including accounts that were correct before, and check every value against the year's records. The amended FBAR must be a complete report.⁠Source 1⁠Source 2

4. Sign and submit; download and preserve the corrected report and new acknowledgement alongside the original submission. Do not assume changing the bank information in your app or tax software automatically amends a FinCEN filing.⁠Source 1⁠Source 2⁠Source 3

Common amendment mistakes

Reporting only the missing account on the replacement report can inadvertently omit valid previously filed accounts. Also avoid applying a later-year balance or exchange rate to an earlier reporting year.⁠Source 1⁠Source 2

If a mistake spans more than one year, evaluate each reporting year separately. Correcting FinCEN Form 114 does not itself amend a federal tax return or Form 8938. For the distinction, see FBAR vs Form 8938.⁠Source 1⁠Source 2

Does an amended FBAR eliminate a penalty?

Filing an amended FBAR doesn't guarantee there will be no penalty. The IRS considers whether the original error was non-willful, whether there was reasonable cause and whether the correction is complete. If you've received an examination notice, or think the omissions could be seen as intentional, get independent tax or legal advice.⁠Source 1⁠Source 4

Related questions

How do I correct a foreign account omitted from my FBAR?

Submit a complete amended FBAR for that year, including the omitted account and every other reportable account, rather than adding only a supplement.⁠Source 1⁠Source 2

Can I amend an FBAR online?

Yes. Use FinCEN's BSA E-Filing system to submit the corrected Form 114 and retain the acknowledgement.⁠Source 1⁠Source 3

Do I need my original BSA ID to amend?

It helps, but you can amend without it. If you can't find it, or the original was filed on paper, enter 14 zeros in the Prior Report BSA Identifier field.⁠Source 2⁠Source 4

Must I repeat accounts that were already correct?

Yes. The amended FBAR is a complete corrected report, not just a list of changes.⁠Source 1⁠Source 2

What if I never filed an FBAR for that year?

That is a delinquent initial filing; follow late-filing procedures rather than marking the first report as amended.⁠Source 1⁠Source 2

Should I change my Form 8938 or Form 1040 as well?

Only if they contain the same error. Amending your FBAR doesn't change your tax return, so correct Form 8938 or Form 1040 separately if needed.⁠Source 1⁠Source 2

Can I amend an old FBAR from several years ago?

Yes. BSA E-Filing accepts amended reports for earlier years. Check each year's facts and the possible penalty exposure for that year.⁠Source 1⁠Source 2⁠Source 3

Will I be penalized for correcting a small mistake?

Correcting an error yourself, before the IRS contacts you, puts you in the best position. The IRS decides penalties case by case, looking at why the error happened and your filing history.⁠Source 4

What supporting records should I save after an amendment?

Keep the original submission, the complete corrected report, both acknowledgements and the account evidence explaining the change.⁠Source 1⁠Source 2

Next pages

Sources

Official sources used for this page.

  1. Source 1: IRS, Details on reporting foreign bank and financial accounts (opens in a new tab)

    Procedure for complete amended FBARs and prior BSA identifiers.

    irs.govChecked Back to text

  2. Source 2: IRS, How to report foreign bank and financial accounts (opens in a new tab)

    Checking the Amended box, the Prior Report BSA Identifier, all zeros when it is unknown or the original was on paper, and completing every field.

    irs.govChecked Back to text

  3. Source 3: FinCEN, BSA E-Filing System — File FBAR (opens in a new tab)

    Official individual online and PDF FBAR methods.

    bsaefiling.fincen.govChecked Back to text

  4. Source 4: IRS, IRM 4.26.16 — Report of Foreign Bank and Financial Accounts (opens in a new tab)

    IRM 4.26.16.3.12: amended FBARs and the 14-zero Prior Report BSA Identifier; penalty factors.

    irs.govChecked Source updated Back to text

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