What Happens to Your FBAR Reporting Reminder Account When You Die
Quick Facts
Type
Compliance reminder (not an account)
Threshold
$10,000 aggregate foreign accounts
Penalty
Up to $100,000 or 50% of balance per violation
Step-by-Step Guide
Determine if FBAR filing is required
If the deceased was a US person (citizen, green card holder, or substantial presence) and had foreign financial accounts with an aggregate value exceeding $10,000 at any point during the year, an FBAR must be filed.
Inventory all foreign financial accounts
Include bank accounts, securities accounts, insurance policies with cash value, mutual funds, and any account held at a foreign financial institution. Joint accounts and signature authority accounts must also be reported.
File FinCEN Form 114 electronically
FBAR is filed electronically through the BSA E-Filing system (bsaefiling.fincen.treas.gov). The executor or personal representative files on behalf of the deceased. Deadline is April 15 with automatic extension to October 15.
Consider FATCA Form 8938
In addition to FBAR, the estate may need to file Form 8938 (FATCA) if foreign financial assets exceed higher thresholds ($50,000-$200,000 depending on filing status). Both filings may be required — they are not interchangeable.
Document Now Checklist
- List of all foreign financial accounts
- Maximum account balances during the year
- Prior year FBAR filing records
- Cross-border CPA contact information
Last verified: June 2026. Platform policies may change. Verify current procedures directly with FBAR Reporting Reminder. This guide is for informational purposes only and does not constitute legal advice.
Related Guides
Social Security
Social Security must be notified of death immediately. Benefits paid after death must be returned. Survivor benefits may be available.
IRS / Tax Returns
A final individual tax return must be filed for the year of death. Estates over $13.61M may owe federal estate tax.
Veterans Affairs (VA)
Veterans are entitled to burial benefits, a headstone or marker, a burial flag, and Presidential Memorial Certificate — all at no cost.
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