If you did not file FinCen Form 114, you could face criminal and/or civil penalties.

  • Willful failure to file a FinCen Form 114 (aka FBAR) could result in penalties up to $250,000 or 5 years in prison or it could be both.
  • Willful failure to file a FinCen Form 114 (aka FBAR) and you violate another law of the US or as part of pattern of any illegal activity involve more than $1000,000 in a 12- month period.

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