Do I get penalties for not filing FBAR?​

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.