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Salary After Tax · Updated June 2026

FBAR & FATCA Penalty Calculator – US Expats

The two disclosure regimes that generate expat panic: FBAR (FinCEN 114 – file when aggregate foreign accounts exceed $10,000 at any moment in the year) and FATCA Form 8938 (higher thresholds: $200k/$300k year-end/any-time for single filers abroad).

Penalty asymmetry drives everything: non-willful FBAR misses carry inflation-indexed five-figure exposure per year (post-Bittner, per report not per account), willful violations reach the greater of ~$165k or 50% of balances per year. The same omission, fixed via Streamlined or delinquent-filing procedures before contact: usually $0.

Salary after tax calculator · 2026

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Where every dollar goes

    2026 rules: federal brackets, $16,100/$32,200 standard deductions, $184,500 SS wage base. Hourly figures assume 40 h/week × 52. Non-US figures are planning estimates incl. employee social charges.

    Key insights

    Key insights

    • FBAR trigger: $10k aggregate, any single day, all accounts.
    • 8938 thresholds for expats: $200k year-end / $300k any time (single).
    • Bittner: non-willful penalties count per report, not per account.
    • Willful exposure: ~$165k or 50% of balances, per year.
    • Pre-contact fixes usually land at $0 – timing is everything.

    Thresholds, traps, and fixes

    Coverage traps: the $10k FBAR trigger aggregates everything (pension wrappers, joint accounts, accounts you merely sign on), one day over counts, and FX conversion uses year-end Treasury rates. 8938 adds non-account assets (foreign equity held directly, certain pensions).

    Fix hierarchy: delinquent FBAR submission (no tax due, reasonable cause: file with statement, usually no penalty) → Streamlined (returns also missing) → voluntary disclosure (willful facts). After IRS contact, the friendly doors close.

    FAQ

    Frequently asked questions

    Who must file an FBAR?

    Any US person whose foreign financial accounts aggregated above $10,000 at any point in the year – including joint accounts, many pensions, and accounts with mere signature authority.

    What are the real penalties?

    Non-willful: inflation-indexed ~$16k-class per unfiled report (post-Bittner). Willful: greater of ~$165k or 50% of account balances per year, plus criminal exposure in egregious cases.

    FBAR vs Form 8938 – do I file both?

    Often yes: FBAR goes to FinCEN at $10k aggregate; 8938 rides the 1040 at $200k/$300k (single, abroad). Overlapping accounts appear on both.

    I just discovered years of missed FBARs – what now?

    If returns were otherwise correct: delinquent FBAR procedures with a reasonable-cause statement (typically penalty-free). If returns need fixing too: Streamlined. Act before any IRS contact.

    Do foreign pensions count?

    Most account-style pensions (UK SIPPs, Australian super, many EU wrappers) count for FBAR and often 8938 – the most commonly missed account class in expat filings.

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