If you live abroad or have foreign investments, it can be easy to overlook foreign reporting requirements. To help you get up to date, the IRS offers the Streamlined Filing Compliance Procedures—for taxpayers whose non-compliance was not willful.
What Are The Streamlined Filing Compliance Procedures?
The Streamlined Procedures allow eligible taxpayers to file past due tax returns and FBARs, typically with reduced or no penalties, to get back on track with tax and reporting compliance.
WHAT YOU NEED TO KNOW ABOUT STREAMLINED FILING COMPLIANCE PROCEDURES
WHO CAN USE THE PROCEDURES?
To be eligible, you must:
- Have failed to file required returns or foreign disclosures
- Certify non willfulness (due to negligence, mistake, or misunderstanding—not intentional avoidance)
- Meet specific residency requirements for the Foreign or Domestic version
- Not be under IRS civil examination or criminal investigation
WHAT IS THE PROCESS?
The Streamlined Procedures generally require:
- Filing 3 years of delinquent or amended returns and 6 years of FBARs
- Submitting a non willful certification (Form 14653 for Streamlined Foreign; 14654 for Streamlined Domestic)
- Paying any tax and interest owed
- A miscellaneous offshore penalty of 5% for Streamlined Domestic (0% for Streamlined Foreign)
NEED HELP GETTING YOUR TAXES AND FILINGS IN ORDER?
We manage the entire process - eligibility review, preparation, and submission - so you can return to full compliance with confidence.
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ADDITIONAL SERVICES WE CAN HELP YOU WITH
Tax Return Preparation
We provide assistance for all your individual tax return needs. This includes preparing and lodging your Individual State and Federal tax returns and any required forms.
Amended Tax Returns
We help amend IRS filings, correct errors, and claim missed deductions to ensure accuracy and avoid penalties.
FOREIGN ASSET REPORTING (FBAR)
We will assist you to stay compliant with FBAR rules and deadlines including fixing missed filings to avoid costly penalties.
International Tax Consulting
As US tax specialists with a global perspective, we will help you navigate the local and international tax complexities.
Exit Tax Planning
If you are planning to leave the US, renounce US citizenship or green card, our experts will help you plan, reduce risk, and protect your wealth.
Pre-Immigration Tax Planning
If you are planning to move to the US, our team can help you stay compliant and optimize your tax outcomes before you arrive.
GET YOUR TAXES UP TO DATE
Our experienced CPAs will take care of your streamlined filing compliance procedures to get you up to date with your taxes.
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