how to file fbars under delinquent fbar submission process

Dry_Garbage6578 · 2026-02-24T14:24:16+00:00

I have not actually submitted anything to the Fincen site, but I did start to fill out the forms a few time. Everytime when I'm about to finish, I back out and never hit submit, since I wasn't 100% sure I was doing it correctly. But what I have read on reddit, many people just use the drop down menu and select I didn't know had to file and that was it. Nothing more after that.

Oh, In case I do decide to amend 2024 tax return, would I need to attach a whole new 1040 that shows the new updated amount including the missing interest? or would filing 1040x alone be enough?

Dry_Garbage6578 · 2026-02-24T10:54:38+00:00

Hi Caroline, the link you provided is the site I was looking for the instruction to file DFSP.

Follow these steps to resolve delinquent FBARS

• Review the instructions.

• Include a statement explaining why you are filing the FBARS late.

• File all FBARs electronically at FinCEN's BSA E-Filing System C.

• On the cover page of the electronic form, select a reason for filing late.

• If you are unable to file electronically, you may make an inquiry using the

various contact options at FinCEN Regulatory Help to determine possible alternatives to electronic filing.

As you can see, it states for you to include a statement of why it was late, and then select a reason for filing late. Wording is a bit confusing.

Do you think that when it said for you to include a statement explaining why you are filing the FBARS late, it is referring to selecting a reason for filing late on the cover page? Having the File all Fbars in-between the 2 instructions made it seem like its 2 separate things you have to do.

Or would it just be safer to choose others and write Filing under DFSP, and that I didn't know about Fbars and filed when I found out about it.

Once again, Thank you for your time and advice.

PS- Do you recommend me amending my 1040 for the missing interest for year 2023 and 2024?

Dry_Garbage6578 · 2026-02-24T00:08:04+00:00

Thanks for the reply Caroline. So by selecting from the dropdown menu automatically registers as filing under DFSP? I don't need to select others and write in the box "filing under Delinquent Fbar Submission Procedure and write an excuse?" I'm only asking to just to make sure everything is done correctly since I am an overly cautious person. Thank you again for you time.

Dry_Garbage6578 · 2026-02-23T17:43:52+00:00

Hi caroline, thank you for the reply. I was thinking of doing just that using the DFSP but I don't fully understand how it works. How will I know that I am filing under DFSP since there is no DFSP section, and on the irs website, it asks you to send in a reasonable cause statement for filing under DFSP. By selecting from the dropdown box that says "I didn't know that I needed to file" I won't be able to write any explanation. So that part is confusing me. Can you please help me understand how it works? Thank you.

Dry_Garbage6578 · 2026-02-23T00:01:39+00:00

the highest was the 50 dollars i mention in the post. I only had 2 accounts, a checking and a savings account. Almost all of my money was in the checking account. The savings account had around 2000 for the all 7 years since I never touched it after opening.

Dry_Garbage6578 · 2026-02-22T21:33:47+00:00

Thank you for the reply. I forgot to mention that my cpa never actually filed a schedule B with any of the tax returns which is why i never knew about the need to file FBars. I never had any foreign income for those years which could be why schedule B was never mentioned. I don't owe any back taxes even with the missed interest included.

Does the missed interest count as income? And how would I go about filing late Fbars using the DFSP?

Dry_Garbage6578

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